XAUUSD: 14/8 Trading Strategy of the Day
Today's Asian market opened at $1913.27 in early trading, with a high of $1915.09 and a low of $1910.03. The minutes of the Federal Reserve FOMC meeting will be the focus of this week. The market is expected to be inclined to pause interest rate hikes in September and November. The dovish stance will put pressure on the dollar to break through the 103 mark. Gold fell to $1913.
The lowest point in early trading was at 1910, and gold continued to fall on the weekly trend. Currently, it maintains a trend of weak shocks, and the price is already close to the previous support zone. Whether there will be room for rebound repair at present. On the daily line, the K line is basically suppressed by the short-term moving average, and continues to show a strong downward trend of shocks. Judging from the daily line, it seems that there is not much room for a rebound, and it is more inclined to continue downward. From the four-hour chart of gold, the moving average is still running below the price, and the two moving averages have a clear downward trend of dead cross, while the K line is below the dead cross throughout the whole process, and is under continuous suppression. Although there is a short-term rebound, the big Yinxian can quickly swallow up the strength of the rebound. After opening in early trading, the downward trend of the negative line seems to continue.
In the 4-hour chart, the shape of gold presents a flat line, showing the characteristics of a bearish side. Despite multiple lows, the failure to break out also hints at the bearish influence. From an indicator point of view, the continuous bottom divergence of the stochastic indicator shows a gradual change in market sentiment, which may lead to an important turning point in the future. At the same time, the MACD indicator also shows signs of passivation bottom divergence, and there is no obvious rebound trend at present. The upper initial resistance is around 1920.88 on the 5-day moving average, and the resistance on the 10-day moving average is around 1932.49. For initial support, refer to the position near the lower rail of the Bollinger Line at 1907.02. For strong support, refer to the 1900 mark. The monthly low was 1892.86.
The upper part focuses on the first-line resistance of 1923-1928, and the lower part focuses on the first-line support of 1900-1893. If the 1910 position is broken today, we will continue to look down around 1900, and if we break the 1900 position, we should not continue to be long on gold.
Gold operation strategy:
SELL:1918-1921
TP1:1915
TP2:1910
BUY:1903-1906
TP1:1910
TP2:1916
The lowest point in early trading was at 1910, and gold continued to fall on the weekly trend. Currently, it maintains a trend of weak shocks, and the price is already close to the previous support zone. Whether there will be room for rebound repair at present. On the daily line, the K line is basically suppressed by the short-term moving average, and continues to show a strong downward trend of shocks. Judging from the daily line, it seems that there is not much room for a rebound, and it is more inclined to continue downward. From the four-hour chart of gold, the moving average is still running below the price, and the two moving averages have a clear downward trend of dead cross, while the K line is below the dead cross throughout the whole process, and is under continuous suppression. Although there is a short-term rebound, the big Yinxian can quickly swallow up the strength of the rebound. After opening in early trading, the downward trend of the negative line seems to continue.
In the 4-hour chart, the shape of gold presents a flat line, showing the characteristics of a bearish side. Despite multiple lows, the failure to break out also hints at the bearish influence. From an indicator point of view, the continuous bottom divergence of the stochastic indicator shows a gradual change in market sentiment, which may lead to an important turning point in the future. At the same time, the MACD indicator also shows signs of passivation bottom divergence, and there is no obvious rebound trend at present. The upper initial resistance is around 1920.88 on the 5-day moving average, and the resistance on the 10-day moving average is around 1932.49. For initial support, refer to the position near the lower rail of the Bollinger Line at 1907.02. For strong support, refer to the 1900 mark. The monthly low was 1892.86.
The upper part focuses on the first-line resistance of 1923-1928, and the lower part focuses on the first-line support of 1900-1893. If the 1910 position is broken today, we will continue to look down around 1900, and if we break the 1900 position, we should not continue to be long on gold.
Gold operation strategy:
SELL:1918-1921
TP1:1915
TP2:1910
BUY:1903-1906
TP1:1910
TP2:1916
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