Previously, Trump frequently criticized Powell, saying that his interest rate cuts were not fast enough, and even considered firing Powell, causing market turmoil. But on April 22, Trump said he had no intention of firing Powell, but still emphasized that the Fed should lower interest rates and said that the stock market had risen well. This statement eased the market's concerns about the instability of the Fed chairman's position. Gold experienced ups and downs on Tuesday because of this news.
From the daily level, the yellow will show a trend of rising and falling on Tuesday, and finally close with a negative line. In the Asian market today, gold opened directly below the 5-day moving average. This sharp opening performance showed strong downward momentum and also made the short-term trend significantly weaker. In intraday trading, it is necessary to focus on the continuity of the downward trend of the market.
First of all, the support strength near the low point of 3316 formed after the low opening in the early trading should be paid attention to. If the short-selling force continues to exert force, causing the market to further weaken and fall, then the low point of 3284 that rebounded last Friday and the 10-day moving average support currently in the 3270 area will become the key support line in the future. In terms of operation, it is still mainly high-altitude
Operation strategy 1: Sell in the range: 3400-3403 SL:3410
TP: 3380--3360
Operation strategy 2: Buy in the range: 3280-3285 SL:3269
TP: 3300--3330
From the daily level, the yellow will show a trend of rising and falling on Tuesday, and finally close with a negative line. In the Asian market today, gold opened directly below the 5-day moving average. This sharp opening performance showed strong downward momentum and also made the short-term trend significantly weaker. In intraday trading, it is necessary to focus on the continuity of the downward trend of the market.
First of all, the support strength near the low point of 3316 formed after the low opening in the early trading should be paid attention to. If the short-selling force continues to exert force, causing the market to further weaken and fall, then the low point of 3284 that rebounded last Friday and the 10-day moving average support currently in the 3270 area will become the key support line in the future. In terms of operation, it is still mainly high-altitude
Operation strategy 1: Sell in the range: 3400-3403 SL:3410
TP: 3380--3360
Operation strategy 2: Buy in the range: 3280-3285 SL:3269
TP: 3300--3330
Note
Note
Gold opened nearly $40 lower in the Asian session, reaching a low of $3,312, down nearly $200 from yesterday's historical high of $3,500. There are two possible reasons for the market's emotional trend. The first is that the US Treasury Secretary hinted that international trade tensions will ease, which has stimulated optimism in the stock market, and funds have flowed out of the gold market, suppressing the safe-haven demand for gold. Another point is that the price of gold rose strongly in the early stage. After a short-term surge, bulls have a need to take profits, which led to a correction in the price of gold.For short-term operations, the market opened lower in the Asian session and then fell further, but did not continue. The key support level of this round is the starting point of the previous round of rising waves, 3284. If this position is not broken, it means that the market's rising pattern has not been broken, and the market outlook is still bullish! The lowest point in the Asian session reached 3312 and began to rise, indicating that there is still strong support above 3300. The intraday retracement near 3300 continues to be long, and the focus below is on the 3284 watershed!
Sell range: 3328-3330, SL:3340 TP:3310-3308
Buy range: 3305-3306 SL:3298 TP:3325-3330
Note
The market has been volatile recently. When trading, you can reduce the transaction size and expand the SL range to reduce risks.Note
Although gold rebounded strongly, I still recommend selling below 3350. Trend trading will bring profits!Trade active
Like I said, selling is in the trend, the profit is huge. Note
Today's profit, if your account is losing money, please contact me and I will help you recover the loss 
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✅Daily analysis and strategies
✅ Free Signals check out my Telegram group: t.me/GoldenView_analysis
✅ Free Signals check out my Telegram group: t.me/GoldenView_analysis
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.