XAUUSD: 2/4 Enter Gold Analysis and Strategy
The price of gold fell back on Monday. Earlier, as the market's expectations for the Federal Reserve's interest rate cut in June increased after the PCE data last Friday, gold once refreshed its all-time high to 2265, but then the price of gold gave back part of the gains. On the one hand, bulls took profits. On the other hand, the U.S. ISM only returned above the 50 mark after a year and a half of PMI data. Market expectations for an interest rate cut in June fell again, and the U.S. dollar and bond yields rose, causing spot gold to narrow its late gains to 0.8%. , closing at $2,251
Gold prices continue to climb this week. Gold cash hit an intraday high of $2,265, a record high. It is expected that under multiple factors such as the slow global de-inflation process, global central bank gold purchase demand will remain strong in the long term, which will also form strong support for the gold price center.
In the short term, the U.S. dollar index is still biased towards strength in the short term, while the gold price has risen too much in the short term. We need to beware of the risk of a short-term shock correction in gold prices. On this trading day, you need to pay attention to the monthly rate of U.S. factory orders and February JOLTs job vacancies in the U.S., pay attention to the speeches of New York Fed President Williams, Cleveland Fed President Mester, and San Francisco Fed President Daley, and pay attention to the market's expectations for the Federal Reserve to cut interest rates. Changes in the performance of the U.S. dollar and U.S. bond yields will also affect the short-term gold price trend.
Daily resistance is 2270, support below is 2200
Four-hour resistance is 2265, support below is 2217-2222
Yesterday, the technical side of gold rose first and then fell. The opening of the Asian market opened with a rapid rise based on the 2243 line. Later, it accelerated and broke through the 2265 mark and then fell back under pressure. It fell into a volatile consolidation. The US market pulled back for a second time and came under pressure at the 2257 mark, and then fell back and hit the downward trend. Crossing the 2240 mark and reaching around 2228, the overall price stepped back at the 2230 mark for a second time to test the effective support. In the short term, this position will become a watershed between bulls and bears. The daily level stabilizes above 2230 and continues to maintain the bullish strong rhythm.
Judging from the daily analysis, the lower support today is still focused on the 2222-35 area, and the upper pressure is focused on the 2260-65 area that opened yesterday.
SELL: 2265~2270
BUY:2222~2217
BUY:2235~2240
Technical analysis only provides trading direction!
Contact Jiesse for trading support
Gold prices continue to climb this week. Gold cash hit an intraday high of $2,265, a record high. It is expected that under multiple factors such as the slow global de-inflation process, global central bank gold purchase demand will remain strong in the long term, which will also form strong support for the gold price center.
In the short term, the U.S. dollar index is still biased towards strength in the short term, while the gold price has risen too much in the short term. We need to beware of the risk of a short-term shock correction in gold prices. On this trading day, you need to pay attention to the monthly rate of U.S. factory orders and February JOLTs job vacancies in the U.S., pay attention to the speeches of New York Fed President Williams, Cleveland Fed President Mester, and San Francisco Fed President Daley, and pay attention to the market's expectations for the Federal Reserve to cut interest rates. Changes in the performance of the U.S. dollar and U.S. bond yields will also affect the short-term gold price trend.
Daily resistance is 2270, support below is 2200
Four-hour resistance is 2265, support below is 2217-2222
Yesterday, the technical side of gold rose first and then fell. The opening of the Asian market opened with a rapid rise based on the 2243 line. Later, it accelerated and broke through the 2265 mark and then fell back under pressure. It fell into a volatile consolidation. The US market pulled back for a second time and came under pressure at the 2257 mark, and then fell back and hit the downward trend. Crossing the 2240 mark and reaching around 2228, the overall price stepped back at the 2230 mark for a second time to test the effective support. In the short term, this position will become a watershed between bulls and bears. The daily level stabilizes above 2230 and continues to maintain the bullish strong rhythm.
Judging from the daily analysis, the lower support today is still focused on the 2222-35 area, and the upper pressure is focused on the 2260-65 area that opened yesterday.
SELL: 2265~2270
BUY:2222~2217
BUY:2235~2240
Technical analysis only provides trading direction!
Contact Jiesse for trading support
Trade active:
Reaching the resistance zone, scalping profits have been obtained
Trade active
Trade active:
Gold scalping profits again
Trade active
Trade active:
The market was already out of control before Friday's NFP and unemployment rate news came out. We can choose to spend the week safely and let the market return to calm. Will gold reach 2300 or return to 2200? Wait patiently for Friday
Trade active:
The waterfall-like decline of gold comes from the profit-making exit of main funds. It is unwise to be long in gold at this time.
Trade active:
The second stage of rising is completed
Trade active:
Gold has entered a short-term correction. The resistance below is 2273-2270. If the trend is continued, the reference target is 2265-2258.
Trade active:
Hitting TP so quickly
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