XAUUSD: Operating in the 2315~2350 range
已更新
Gold prices fell more than 1% on Tuesday as the dollar stabilized ahead of this week's U.S. jobs data, which could set the tone for the Federal Reserve's interest rate strategy. In addition, the increasing possibility of a ceasefire in the Middle East also suppressed the safe-haven demand for gold.
Against the backdrop of a slight rise in the US dollar and a decline in US Treasury yields, the continued sharp drop in oil prices has dragged down the overall commodity sell-off, which has become the main reason for the sharp drop in gold and silver. In addition, profit-taking by short-term traders is also one of the factors that have led to the decline in precious metal prices. However, the latest US economic data is not good, and US Treasury yields have continued to fall to a nearly three-week low, which still provides some support for gold prices.
Investors are currently waiting for Friday's US NFP data to clarify the prospects for rate cuts. In addition, they are also closely watching the election results in India, the world's second largest gold consumer! This trading day will usher in US ADP employment data and US May ISM non-manufacturing PMI. In addition, pay attention to the interest rate decision of the Bank of Canada.
Gold technical analysis
Daily resistance 2370, support below 2327-2300
Four-hour resistance 2352, support below 2325-2300
Gold operation suggestions:
Today, ADP data will be released. The upper resistance is around 2350-55. If the rebound trend occurs today, you can try short-term shorting near 2350. The SL before the news release may need to be larger to prevent large fluctuations in the market. The probability of breaking through yesterday's high of 2352 before the data is low. If it fails to rebound to today's high near 2340 and starts to fall directly, you can try short-term longs near 2315-17 below. This point has rebounded more than 3 times. (2370 is also the daily level long-short watershed)
SELL:2370 near SL:2373
SELL:2352 near SL:2355
BUY:2315 near SL:2310
Technical analysis only provides trading direction!
Against the backdrop of a slight rise in the US dollar and a decline in US Treasury yields, the continued sharp drop in oil prices has dragged down the overall commodity sell-off, which has become the main reason for the sharp drop in gold and silver. In addition, profit-taking by short-term traders is also one of the factors that have led to the decline in precious metal prices. However, the latest US economic data is not good, and US Treasury yields have continued to fall to a nearly three-week low, which still provides some support for gold prices.
Investors are currently waiting for Friday's US NFP data to clarify the prospects for rate cuts. In addition, they are also closely watching the election results in India, the world's second largest gold consumer! This trading day will usher in US ADP employment data and US May ISM non-manufacturing PMI. In addition, pay attention to the interest rate decision of the Bank of Canada.
Gold technical analysis
Daily resistance 2370, support below 2327-2300
Four-hour resistance 2352, support below 2325-2300
Gold operation suggestions:
Today, ADP data will be released. The upper resistance is around 2350-55. If the rebound trend occurs today, you can try short-term shorting near 2350. The SL before the news release may need to be larger to prevent large fluctuations in the market. The probability of breaking through yesterday's high of 2352 before the data is low. If it fails to rebound to today's high near 2340 and starts to fall directly, you can try short-term longs near 2315-17 below. This point has rebounded more than 3 times. (2370 is also the daily level long-short watershed)
SELL:2370 near SL:2373
SELL:2352 near SL:2355
BUY:2315 near SL:2310
Technical analysis only provides trading direction!
交易進行
交易進行
Gold follows the same trajectory as our chart this morning. After breaking through today's high of 2341, long positions will make a profit of 100pips. 交易進行
Hopefully you are as sensible as I am, I think we will most likely stop trading to avoid US NFP and unemployment news. . Click on my avatar and profile to see more analysis and signals交易進行
交易進行
交易進行
Good luck to everyone in the new week
相關出版品
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。