XAUUSD UPDATE

Today, gold is still bullish in the short term. The following focuses on the entry point of short-term bulls in the 2045-2040 area. The strength dividing line during the day is the 2037 line, which is the starting point in the early morning period overnight. This wave of bullish moves has been quite bumpy, and the essential reason is that gold is currently in an adjustment stage. The probability of forming a major trend market in the short term is unlikely. Therefore, operations are mainly based on short-term and small-band operations.

Operation plan: Don’t chase high, retrace 2045-2040 area to enter long, defend 2037, target around 20 US dollars