XAUUSD| Risk aversion stimulates bullish surge

Updated

✅Yesterday, gold rose slightly in the morning and then entered a shock consolidation. The European and US sessions continued to rise, reaching the highest level of 2660, and the daily closing recorded a large positive line again. The daily gold line broke through the previous consolidation range and successfully broke through the upper rail resistance of 2639, forming a shock upward trend, and further approached the upper rail of the wide range. The bullish trend is obvious, and going long after the correction is still the main theme of the current market.

✅At the 4-hour level, the gold price stood firmly on the middle track of the Bollinger Band and continued to rise along the upper track, forming a continuous positive rising structure, and the short-term performance was strong. The small-level double bottom pattern has been established, with 2583 and 2598 as the key lows, breaking through the neckline 2639 and accelerating upward rapidly. At present, gold continues to fluctuate upward with the support of the neckline, and the short-term trend continues to be strong.

✅At the 1-hour level, the moving average system has shown golden crosses diverging upward, indicating that short-term bulls have sufficient momentum. Yesterday, the US market rebounded quickly after hitting the lowest point of 2636, continuing the bull market. If it falls back to above 2636 in the morning, you can continue to buy on dips. The short-term structure is still bullish. The current bulls are in high spirits and are expected to rise further after consolidating at high levels in the short term.

🔴Upper resistance: 2665-2675. If it breaks through the resistance, it can further reach new highs. If it cannot break through effectively, you can short with a light position near this area.
🟢Lower support: 2640-2642. If it falls back to the support level, you can consider entering the market with long orders.

✅Intraday Trading strategy:
🔶GOLD SELL: 2662-2665
🔰TP1: 2650
🔰TP2: 2645
🔰TP3: 2638 OPEN~

🔶GOLD BUY: 2642-2645
🔰TP1: 2655
🔰TP2: 2665
🔰TP3: 2675 OPEN~

✅The overall trend of gold remains strong. In the short term, it is recommended to continue to buy on pullbacks. Focus on the support and resistance ranges, follow the trend, and seize the opportunity to continue the bull market.

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Trade closed: target reached

🔥PERFECT!!! GOLD SELL @ 2658-2660, DONE HIT TP 2645💯
👍Congratulations to our members for running profits++130 PIPS🔝🔝🔝🔝

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