GOLD: From 1985 to 1956, sell high and buy low
On Thursday, the Federal Reserve is highly likely to raise interest rates by 25 basis points, coupled with UBS's acquisition of Credit Suisse and liquidity operations jointly conducted by the Federal Reserve and the five major central banks, which has led to a gradual decline in market risk aversion.
Gold began to consolidate at a low level after exploring risk aversion since 2009. With the current bottom deviation of the US dollar, the probability of rebounding again is not high. Therefore, in the context of the general decline in sentiment, gold still has the possibility of further decline in the short term.
Combining several key support and resistance levels, the following two interval trading strategies are provided for reference:
Short in the range of 1980-1985, SL: 1990, TP: 1959, 1956
Long in the range of 1956-1959, SL: 1950, TP: 1980, 1985.
Gold began to consolidate at a low level after exploring risk aversion since 2009. With the current bottom deviation of the US dollar, the probability of rebounding again is not high. Therefore, in the context of the general decline in sentiment, gold still has the possibility of further decline in the short term.
Short in the range of 1980-1985, SL: 1990, TP: 1959, 1956
Long in the range of 1956-1959, SL: 1950, TP: 1980, 1985.
Comment:
The current price is 1855, long order to buy