https://www.tradingview.com/x/CZAfDV9L/
News：
After the Fed's decision, spot gold prices briefly soared to $3,707.48 per ounce, a record high. However, following Fed Chairman Powell's speech, the dollar rebounded sharply, sending gold prices plummeting to $3,646.00 per ounce. By Wednesday's close, spot gold had fallen 0.8% to $3,659.96 per ounce.
With dovish expectations surrounding the Federal Reserve still intact, any dip in gold could be seen as a good opportunity to buy on the dip, thereby maintaining the uptrend.
The market now looks forward to the U.S. initial jobless claims data for fresh trading momentum. Furthermore, geopolitical headlines and comments from U.S. President Trump could also drive gold prices in the coming sessions.
Technical aspects：
The daily chart shows that gold buyers appear to have another opportunity for a sustained rally, as the 14-day Relative Strength Index (RSI) has finally retreated sharply from extreme overbought territory. The RSI has fallen from 80 to 70.
If bargain hunting emerges and gathers momentum, gold could retest the record high of $3,708 per ounce. A daily close above that level would open the door to the $3,750 per ounce region.
From a 4-hour analysis, effective support remains near 3620, which is currently a key defensive support level. If this level continues to fall, the bullish and bearish biases may shift in the future.
Key resistance from above remains at 3700. Strategically, consider long and short positions within this range. In the middle, be cautious and watchful, follow orders carefully, and patiently wait for key entry points. Specific operational strategies will be monitored closely.
Strategy：
Gold falls back to 3620, 3630 and buys, stop loss at 3610, target 3690-3700, break to 3720
News：
After the Fed's decision, spot gold prices briefly soared to $3,707.48 per ounce, a record high. However, following Fed Chairman Powell's speech, the dollar rebounded sharply, sending gold prices plummeting to $3,646.00 per ounce. By Wednesday's close, spot gold had fallen 0.8% to $3,659.96 per ounce.
With dovish expectations surrounding the Federal Reserve still intact, any dip in gold could be seen as a good opportunity to buy on the dip, thereby maintaining the uptrend.
The market now looks forward to the U.S. initial jobless claims data for fresh trading momentum. Furthermore, geopolitical headlines and comments from U.S. President Trump could also drive gold prices in the coming sessions.
Technical aspects：
The daily chart shows that gold buyers appear to have another opportunity for a sustained rally, as the 14-day Relative Strength Index (RSI) has finally retreated sharply from extreme overbought territory. The RSI has fallen from 80 to 70.
If bargain hunting emerges and gathers momentum, gold could retest the record high of $3,708 per ounce. A daily close above that level would open the door to the $3,750 per ounce region.
From a 4-hour analysis, effective support remains near 3620, which is currently a key defensive support level. If this level continues to fall, the bullish and bearish biases may shift in the future.
Key resistance from above remains at 3700. Strategically, consider long and short positions within this range. In the middle, be cautious and watchful, follow orders carefully, and patiently wait for key entry points. Specific operational strategies will be monitored closely.
Strategy：
Gold falls back to 3620, 3630 and buys, stop loss at 3610, target 3690-3700, break to 3720
Trade active
Waiting for gold to break the balance spaceTrade closed: target reached
Reach the target on time
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I'm Theodore, welcome to join my channel, where you can get the latest trading signals and strategy layout.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.