🌐 Driving factors
US President Trump will be in office for 100 days in his second term. On April 27, local time, a new poll jointly conducted by ABC, The Washington Post and Ipsos Group showed that Trump's approval rating for the first 100 days in office was 39%, which was 6 percentage points lower than in February this year, and set the lowest approval rating for the first 100 days in office of all US presidents in the past 80 years.
The results of the Russian-Ukrainian negotiations are not optimistic, and the geopolitical situation is tense.
📊 Commentary analysis
The recent gold fluctuations are really violent and very fast. If you hesitate a little, you will basically miss the market. If you are too anxious, you will easily hit the stop loss. Now the fluctuations in a few hours are higher than the amplitude of the past month. The stop loss of 3-5 US dollars can be easily swept. The market is changing, and the corresponding stop loss should also be enlarged.
🔷 Technical side:
For the current gold, the 1-hour chart card fluctuates widely between 3260-3370, and is currently at 3290 US dollars.
✔Operational suggestions, keep short-term trading:
Bearish strategy:
If the gold price rebounds to the range of 3350-3360 US dollars, you can try to short, with a target of 3290 US dollars and a stop loss of 3365 US dollars.
Bullish strategy:
If the gold price falls to the support of 3260-3270 US dollars, you can go long with a light position, with a target of 3340 US dollars and a stop loss of 3255 US dollars.
💥Risk warning
Liquidity risk: The market may be bearish in early May, and price fluctuations may be amplified.
Policy black swan: Trump may suddenly make tariff policies or personnel changes at the Federal Reserve, causing violent market fluctuations.
Technical false breakthrough: There are a large number of stop-loss orders near 3350 US dollars, and you need to be wary of reversals after inducing more.
Summary:
This week, the gold market will be affected by geopolitics, Federal Reserve policies and the trend of the US dollar. The fluctuation range is expected to be between 3260 and 3370 US dollars. Investors need to pay close attention to key support and resistance levels and adjust their strategies flexibly.
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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.
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.