Today's operational recommendations: XAUUSD mainly in the stage of consolidation today. Without the fundamental of support, there will be not much fluctuation, so it is recommended to observe from the support level and wait for the opportunities regarding long positions.
Fundamental analysis: 1. The global central bank's easing monetary policy and debt increase have caused the currency in the worldwide sector to depreciate, and gold will continue to be strong. 2. When the economy is weak, the central bank will try any idea or measure to stimulate the market and the economy. 3. There will be a large amount of debt and non-debt liabilities (such as pensions and health care) in the market, more and more of these debts are not going to be paid. Investors who now hold zero or negative debt are sacrificing long-term gains for short-term dividends.
Before the end of the month, the Federal Reserve announced the interest rate decision, gold is currently consolidating, and it is better to buy from the dips to reduce the risk. If you want to trade gold today, the critical point is the entry-level. The space for uptrend is not much, only 700-1000 points. It is recommended to observe the 1,419 and 1,416 support levels. If the price doesn't break, you can still consider a long position with a small lot size.
Entry point: at around 1,416, with a take-profit of 1,429, and a stop-loss can be based on confidence in the later gold trend. *
Note that this is the best to enter the market with small lot size, if the price fall below, you can consider a long position at a low price. Note: The above analysis is personal opinion and for reference only.
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if want take some risk we can try entry point :1422 TP :1427
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