Combined with the trend of the US dollar index, the probability of continuing to fall in the short term is high. Today, the manufacturing industry is significantly bullish for gold prices, which is expected. Powell's speech in an hour will be the key factor in today's New York market.
The pressure of interest rate cuts is imminent. Will Powell continue to insist on not cutting despite all objections? This is what we need to pay attention to. Make two plans. First, continue not to cut interest rates, the US dollar will be supported, and gold will retreat. If there is a retracement of 3400-3410 points, it needs to be paid attention to. Second, it is not discussed. Or interest rate cuts are beneficial to gold prices. This is the driving force for gold prices to hit 3500-3450.
To be honest, the conclusion of the Band Trading Center Research Institute tends to the latter. So if you buy, you need to set TP/SL strictly.
The pressure of interest rate cuts is imminent. Will Powell continue to insist on not cutting despite all objections? This is what we need to pay attention to. Make two plans. First, continue not to cut interest rates, the US dollar will be supported, and gold will retreat. If there is a retracement of 3400-3410 points, it needs to be paid attention to. Second, it is not discussed. Or interest rate cuts are beneficial to gold prices. This is the driving force for gold prices to hit 3500-3450.
To be honest, the conclusion of the Band Trading Center Research Institute tends to the latter. So if you buy, you need to set TP/SL strictly.
Trade active
The Asian market hit the highest point of 3438 but failed to stabilize, then retreated to 3419 and continued to fluctuate upward. The current price is 3423. The Asian market as a whole plays a guiding role, but the actual upward momentum still needs to rely on the New York market. The London market plays the role of intermediate buffer repair and retracement. It is a good choice to sell at the current price first and then buy. Pay attention to whether 3410-3400 can be reached. If it is reached and stabilized, then the probability of buying and profit is very high.Note
The gold price bought by the followers has broken the resistance of 3430. The next step is to wait for the arrival of 3350.Note
The lowest price of gold has retreated to the range of 3400-3410. The lowest price reached 3405. Then it did not stabilize and quickly rebounded to 3419, with a narrow range of fluctuations. The current price is 3315. The predicted low value has been reached. But the upper high has not been reached. Therefore, buying at low levels is the main trading strategy at the moment.Note
The market has seen some sharp corrections. There is no technical correction caused by any news. The lowest price reached 3382. The entire position is a technical adjustment point, and the decline is very fast. But it doesn't matter. Adding some buy orders below can still successfully recover some losses, but it is limited to large capital accounts and trading. I have notified all members to buy to remedy the buy orders above. Traders who are not members should adjust according to their own capital conditions. Pay attention to whether the 3400 position is stable during the rebound.
Do you always regret not seeing the real-time trading opportunities in time? Then come to my swing trading center and contact me to get real-time trading opportunities: t.me/Swing_XAUUSD_BTCUSD_8
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.
Do you always regret not seeing the real-time trading opportunities in time? Then come to my swing trading center and contact me to get real-time trading opportunities: t.me/Swing_XAUUSD_BTCUSD_8
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.