XAUUSD: 3/4 Today Analysis and Strategy

Gold continued its gains on Wednesday and then began to fall after reaching 2288. Traders snapped up safe-haven assets amid rising tensions in the Middle East. Largely ignored, a stronger U.S. dollar and bets on U.S. interest rate cuts have sent gold prices to another record high.

Data released on Monday showed that U.S. manufacturing activity expanded in March for the first time in a year and a half, and the dollar jumped in response. After the data was released, traders saw the probability of a rate cut in June falling to 58% from around 60% previously. However, speeches by Fed officials and a mild slowdown in employment data on Tuesday pushed expectations for a rate cut by the Fed in June back up slightly to around 64%.

Gold continues to break historical records after news of an Israeli airstrike on the Iranian embassy in Syria was released. Investors seeking a safe haven as geopolitical risks intensified rushed to pursue gold. At the same time, gold prices have risen 14% since mid-February this year on signs that a much-anticipated U.S. Federal Reserve policy shift is nowhere in sight. This week, investors will focus on the U.S. non-farm payrolls (NFP) data for March, which will be released on Friday. Labor market data could provide clues as to when the Federal Reserve will begin cutting interest rates.
Daily resistance is 2300, support below is 2229
Four-hour resistance is 2290, support below is 2270-46
Gold operation suggestions: Yesterday, the gold price received support at the 2250 mark and ushered in a strong effort to break the all-time high. The short-term support is 2070-60 below. The dividing line between long and short is currently around 2246 below. Pay attention to the situation of breaking new highs and 2300 above.


BUY:2267~2270
BUY:2260~2255
BUY:2246~2250
SELL: near 2290
SELL:near 2230

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Gold rallies quickly ahead of news

Comment:

PMI is good for gold, directly pulling up $8. Gold is about to break through history again

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If you checked my analysis strategy this morning, you have made a profit of close to 200pips. Although it was a rise after the data, I did not enter the market because I stopped trading before the data was released.

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Guys, today's gold and crude oil market analysis and strategies have been updated, click on my profile to view. It will be sent every day so don’t miss it

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Tomorrow NFP, the market began to become unstable, the main funds and institutions will close a large number of positions, so you will frequently see the market rapid rise or fall, then we keep calm, stop trading to avoid risk.

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US seems to be busy today, so I will choose to take a day off. I hope you all can make money today, and good luck to everyone!

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Although I did not trade today, both the gold and crude oil forecasts for the VIP have been fulfilled. I predict that gold will fall and then recover quickly, with the goal of waiting until 2350 to fall, which is already 2330. Crude oil is also rising as planned

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Today is a good start

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