Gold prices held steady at 3368 last Friday, but fell 1.8% for the week, mainly due to the Fed's cautious stance. The latest FOMC statement maintained interest rates in the 4.25%-4.50% range. Although it emphasized caution, it lowered expectations for rate cuts within the year. Coupled with a slight rebound in U.S. Treasury yields (10-year to 4.421%), non-yielding assets such as gold were under pressure. At the same time, the strengthening of the U.S. dollar and the decline in the urgency of geopolitical risks have intensified the sell-off, and gold prices may continue to be weak in the short term.
5-week moving average; the daily cross star shows a short position arrangement but holds the middle track support. The 4-hour level is still in the rising channel. The support near 3340 is effective, and there are signs of stopping the decline in the short term. After opening high at 3398 this morning, it fell back slightly. The market's risk aversion and covering demand supported the gold price. In terms of operation, it is recommended to mainly go long on the decline. Gold recommendation: Buy at current price range of 3352-3347, stop loss at 3340, target at 3383
XAUUSD GOLD XAUUSD GOLD XAUUSD GOLD
5-week moving average; the daily cross star shows a short position arrangement but holds the middle track support. The 4-hour level is still in the rising channel. The support near 3340 is effective, and there are signs of stopping the decline in the short term. After opening high at 3398 this morning, it fell back slightly. The market's risk aversion and covering demand supported the gold price. In terms of operation, it is recommended to mainly go long on the decline. Gold recommendation: Buy at current price range of 3352-3347, stop loss at 3340, target at 3383
XAUUSD GOLD XAUUSD GOLD XAUUSD GOLD Note
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Considering that some market windows have a certain timeliness for real-time trading, you can follow David so that you can choose the appropriate strategy to operate. He has in-depth research on commodities such as gold, crude oil, BTC, etc. If you are not doing well in trading or your investment funds are often shrinking, then you can follow DavidTrade active
Considering that some market windows have a certain timeliness for real-time trading, you can follow David so that you can choose the appropriate strategy to operate. He has in-depth research on commodities such as gold, crude oil, BTC, etc. If you are not doing well in trading or your investment funds are often shrinking, then you can follow David
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Senior Market Strategy Analyst | CFA® Charterholder | Builder of a Million Member Profit System. To join, please click 👉🚀🚀t.me/EagleEyePrecisionAnalysis
👉：t.me/Eagle_PreciseAnalysis
👉：t.me/Eagle_PreciseAnalysis
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.