Yesterday, the gold price fell as expected after hitting 3350, reaching a low of around 3334. During this period, friends who followed the short selling made money, congratulations.
As the weaker-than-expected ADP data triggered investors' concerns about the possibility of an earlier rate cut by the Federal Reserve, gold once broke through the 3350 resistance level, so we can no longer rely on 3350 to short.
Today is Thursday. Since tomorrow is the Independence Day holiday in the United States, the most important NFP data of this month will be released half an hour later today, so everyone should pay close attention to it.
From the 4-hour chart, gold is still suppressed by the trend line, but it is not ruled out that it will be supported at the bottom today like before, and break through the suppression in one fell swoop with the help of NFP data.
Therefore, today we have to focus on the support near 3325. If 3325 is held again, I think the possibility of breaking through the suppression level is very high.
The trading strategy is as follows:
Focus on the support near 3325, and go long if it does not fall below
TP1:3345
TP2:3365
TP3:3400
More detailed real-time trading strategies will be released in the channel
As the weaker-than-expected ADP data triggered investors' concerns about the possibility of an earlier rate cut by the Federal Reserve, gold once broke through the 3350 resistance level, so we can no longer rely on 3350 to short.
Today is Thursday. Since tomorrow is the Independence Day holiday in the United States, the most important NFP data of this month will be released half an hour later today, so everyone should pay close attention to it.
From the 4-hour chart, gold is still suppressed by the trend line, but it is not ruled out that it will be supported at the bottom today like before, and break through the suppression in one fell swoop with the help of NFP data.
Therefore, today we have to focus on the support near 3325. If 3325 is held again, I think the possibility of breaking through the suppression level is very high.
The trading strategy is as follows:
Focus on the support near 3325, and go long if it does not fall below
TP1:3345
TP2:3365
TP3:3400
More detailed real-time trading strategies will be released in the channel
Trade active
The just released US NFP and unemployment rate, as well as the data on initial jobless claims for the week are all bearish for gold. Gold fell in response and the current price is around 3330. We are paying close attention to the support near 3325. If it does not fall below, look for opportunities to buy. If it falls below, don't consider it. It is very likely that the 3300 integer mark will be tested again.
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🟢Join the free Telegram group:
t.me/Reliable_Trading0
🟡Contact me to copy trading:
t.me/Reliable_Trading1
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.
📣More detailed real-time trading strategies will be released in the channel, welcome to join and get them
🟢Join the free Telegram group:
t.me/Reliable_Trading0
🟡Contact me to copy trading:
t.me/Reliable_Trading1
🟢Join the free Telegram group:
t.me/Reliable_Trading0
🟡Contact me to copy trading:
t.me/Reliable_Trading1
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.