A weaker U.S. dollar and geopolitical tensions provided support to gold prices. According to the latest news, three Iranian soldiers were killed in terrorist attacks on two military headquarters in southeastern Iran.
Federal Reserve Chairman Powell reiterated the path of interest rate cuts this year. The US dollar was sold off. International gold reversed its previous decline due to strong ADP employment data and turned to a sharp rise. Gold rose nearly 20 US dollars on Wednesday, once exceeding 2,300 US dollars, setting a record. . Concerns about inflationary pressures boosted hedging demand for gold, U.S. service sector growth slowed further in March, and the U.S. dollar index fell from a four-and-a-half-month high to a one-week low, continuing to provide upward momentum for gold prices.
Gold, a hedge against inflation and a safe haven in times of political and economic uncertainty, has risen more than 11% so far this year, helped by strong purchases by the Federal Reserve and safe-haven demand. This trading day will usher in the number of U.S. challenger company layoffs in March, the U.S. trade balance in February, and changes in the number of U.S. initial jobless claims for the week ending March 30. Investors need to focus on this.
gold analysis
Daily resistance is 2340, support below is 2280-40
Four-hour resistance is 2305, support below is 2280-65
Gold operation advice: The price of gold accelerated its rise and hit a record high. The daily level has risen for seven consecutive days and continues to maintain a strong bullish rhythm. At the same time, the overall rhythm recently has been a strong adjustment within the day and accompanied by a late pull-up, breakthrough closing, and a strong bullish pattern.
The current highest price is around US$2,305. Gold continues to be bullish today and there is still room and demand for gold. Today, gold will focus on the lower support near 2,280. We can try to go long. Above, we can look at US$2,320 and US$2,340. !
BUY:2277-83
BUY:2265-69
Technical analysis only provides trading direction!
Federal Reserve Chairman Powell reiterated the path of interest rate cuts this year. The US dollar was sold off. International gold reversed its previous decline due to strong ADP employment data and turned to a sharp rise. Gold rose nearly 20 US dollars on Wednesday, once exceeding 2,300 US dollars, setting a record. . Concerns about inflationary pressures boosted hedging demand for gold, U.S. service sector growth slowed further in March, and the U.S. dollar index fell from a four-and-a-half-month high to a one-week low, continuing to provide upward momentum for gold prices.
Gold, a hedge against inflation and a safe haven in times of political and economic uncertainty, has risen more than 11% so far this year, helped by strong purchases by the Federal Reserve and safe-haven demand. This trading day will usher in the number of U.S. challenger company layoffs in March, the U.S. trade balance in February, and changes in the number of U.S. initial jobless claims for the week ending March 30. Investors need to focus on this.
gold analysis
Daily resistance is 2340, support below is 2280-40
Four-hour resistance is 2305, support below is 2280-65
Gold operation advice: The price of gold accelerated its rise and hit a record high. The daily level has risen for seven consecutive days and continues to maintain a strong bullish rhythm. At the same time, the overall rhythm recently has been a strong adjustment within the day and accompanied by a late pull-up, breakthrough closing, and a strong bullish pattern.
The current highest price is around US$2,305. Gold continues to be bullish today and there is still room and demand for gold. Today, gold will focus on the lower support near 2,280. We can try to go long. Above, we can look at US$2,320 and US$2,340. !
BUY:2277-83
BUY:2265-69
Technical analysis only provides trading direction!
Trade active
Bulls are still the main trendTrade active
Trade active
The lower support is 2282/2272, use this as the stop loss price and continue to go long.Trade active
My analysis this morning was all profitable. If you followed my signals it would be a nice profit Note
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.Trade active
Trade active
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! Trade active
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 plannedTrade active
Today is a good startTrade active
Trade active
Trade active
An IB breakthrough is formed at 15/30 minutes, and gold will continue to rise if it stands firm at 2330. At present, 2330 has become the dividing line between long and short.Trade active
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💥Telegram Channel Free Updates 👉🏻
💥t.me/Actuary00group
✉️Gold Signal and daily analysis channel
💥t.me/Actuary00group
✉️Gold Signal and daily analysis channel
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.