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💡Message Strategy
On Monday (August 25), spot gold (XAU/USD) continued its momentum from Friday before the US market opened, consolidating around the high of $3,370.00.
Previously, Federal Reserve Chairman Jerome Powell expressed an openness to "easing policy restrictiveness" at the Jackson Hole annual symposium and indicated a "swift" interest rate cut if downside risks to the labor market emerge. Falling yields and a volatile and weak US dollar provided marginal support for gold.
Potential macroeconomic constraints should not be ignored: If subsequent high-frequency data indicate continued resilience in demand and rising inflation stickiness, the market's forward pricing in the pace of rate cuts may retreat, and a further steepening of the interest rate curve could re-suppress gold prices.
Furthermore, a temporary technical rebound in the US dollar amid global capital "rebalancing" would also constrain dollar-denominated commodities. Therefore, the fundamental drivers for gold are currently bullish, but still require verification.
📊Technical aspects
First, regarding the weekly gold chart: Last week, it held the middle band and closed positive, breaking through the short-term 5-day and 10-day resistance levels. This week's pullback confirms that both support levels exist. Given the market is still trading sideways at its mid-term high, some penetration is inevitable, which is within normal fluctuations. This week, the middle band support moved up to 3320. At this level, we maintain a medium-term bullish outlook, awaiting an upward breakthrough after sideways trading.
Second, regarding the daily gold chart: For the past four months, the market has been oscillating and correcting within a converging triangle. The old converging triangle is no longer sufficient to support its fluctuation range, and has now expanded into a new converging triangle. The lower band support is at 3320, and the upper band resistance is at 3420. The market is generally operating within a 100-meter range, and the pattern will gradually shrink. We continue to await an upward breakthrough in the future.
Last Friday, the market closed with a large positive candlestick pattern, effectively breaking through the short-term 10-day moving average. Therefore, a pullback at the beginning of this week confirming this moving average at 3340 suggests a bullish trend based on dips.
💰Strategy Package
Long Position:3350-3360，SL:3340，Target: 3400
💡Message Strategy
On Monday (August 25), spot gold (XAU/USD) continued its momentum from Friday before the US market opened, consolidating around the high of $3,370.00.
Previously, Federal Reserve Chairman Jerome Powell expressed an openness to "easing policy restrictiveness" at the Jackson Hole annual symposium and indicated a "swift" interest rate cut if downside risks to the labor market emerge. Falling yields and a volatile and weak US dollar provided marginal support for gold.
Potential macroeconomic constraints should not be ignored: If subsequent high-frequency data indicate continued resilience in demand and rising inflation stickiness, the market's forward pricing in the pace of rate cuts may retreat, and a further steepening of the interest rate curve could re-suppress gold prices.
Furthermore, a temporary technical rebound in the US dollar amid global capital "rebalancing" would also constrain dollar-denominated commodities. Therefore, the fundamental drivers for gold are currently bullish, but still require verification.
📊Technical aspects
First, regarding the weekly gold chart: Last week, it held the middle band and closed positive, breaking through the short-term 5-day and 10-day resistance levels. This week's pullback confirms that both support levels exist. Given the market is still trading sideways at its mid-term high, some penetration is inevitable, which is within normal fluctuations. This week, the middle band support moved up to 3320. At this level, we maintain a medium-term bullish outlook, awaiting an upward breakthrough after sideways trading.
Second, regarding the daily gold chart: For the past four months, the market has been oscillating and correcting within a converging triangle. The old converging triangle is no longer sufficient to support its fluctuation range, and has now expanded into a new converging triangle. The lower band support is at 3320, and the upper band resistance is at 3420. The market is generally operating within a 100-meter range, and the pattern will gradually shrink. We continue to await an upward breakthrough in the future.
Last Friday, the market closed with a large positive candlestick pattern, effectively breaking through the short-term 10-day moving average. Therefore, a pullback at the beginning of this week confirming this moving average at 3340 suggests a bullish trend based on dips.
💰Strategy Package
Long Position:3350-3360，SL:3340，Target: 3400
Trade active
Judging from the market microstructure and cross-market feedback, the bullish market sentiment of gold prevailed on the first trading day after the Jackson Hole Annual Meeting.
Through scientific and rigorous financial analysis and personalized strategy formulation, we help you achieve stable growth of wealth. At the same time, in a complex and changing economic environment, we help you avoid potential risks and protect the saf
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.
Through scientific and rigorous financial analysis and personalized strategy formulation, we help you achieve stable growth of wealth. At the same time, in a complex and changing economic environment, we help you avoid potential risks and protect the saf
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.