XAUUSD:14/11 Today’s Trading Strategy

In the Asian market on Tuesday, the U.S. dollar index fell back to 105.6, gold prices remained at a weak level of 1945, and many traders were paying attention to the U.S. Consumer Price Index (CPI) released in the evening. A previous poll by the New York Federal Reserve Bank showed that one-year inflation expectations are declining, while prices in October are expected to fall to 3.3% from 3.7% in the same period last year. Core CPI is expected to be 4.1%, unchanged from the previous reading.

Gold prices showed a bottom-out trend on Monday. The lowest point hit 1931.5 and then rebounded quickly. The highest point reached 1949, but it adjusted after encountering resistance. The last closing price was 1945.97. On the daily chart, gold closed with a Zhongyang line, which indicates that gold has begun to stabilize after continuous declines. Judging from the overall trend, gold is still in a downward channel, with the upper long-short watershed at 1953. If this mark is exceeded, the platform resistance level of 1965 will be tested. Below, gold has formed a long-short reversal signal at the 1941 level. Touching this level for the first time today will become a support level. If there is an unexpected break below this level, the previous low of 1931 will need to be watched.

Based on the above analysis: Gold is expected to bottom out and form a bull reversal. The price of gold is expected to fall first and then rise today.
BUY:1935-1938
SL:1931
TP1:1942
TP2:1948

SELL:1957-1959
SL:1965
TP1:1953
TP2:1948