In terms of news, first, the easing of the trade situation weakened the safe-haven property of gold. Secondly, a series of data released this week and the Fed's emphasis on not rushing to cut interest rates also suppressed the gold price. In addition, the parties involved in geopolitical conflicts also began talks. Although there are differences in negotiating positions, they still have to solve the problem when they can sit down and talk. Because of the repeated news, the closing price at the end of the week was also above 3200, so some people still believe that the gold price will go to 3500, and even think that it will exceed this position. I have mentioned this in my previous analysis. The gold price was first stimulated by multiple news and buying rushed up. Now that the risk aversion has receded, I think it is reasonable to see the gold price fall.
Let's analyze it from the technical side: the rhythm of gold has changed rapidly recently, and next Monday is actually the key. The 1-hour moving average of gold has begun to show signs of turning around, so whether it can form a golden cross upwards is the key next time, or it will oscillate a few times and continue to diverge downward. The strength of gold on Monday is very critical. Gold closed with a big positive line on Thursday, which was a very fast trend. However, it fell directly on Tuesday and broke through more than half, so it cannot be said that the bulls are strong. Although it rebounded slightly in the late trading, it still closed with a big negative line. There will be two key positions on Monday next week. Pay attention to 3180 on the bottom of gold. If it falls below 3180 soon after the opening on Monday, then gold will still be weak as a whole. Pay attention to 3215 on the top. If gold breaks through 3215, then gold will be strong as a whole. If gold opens flat on Monday and the upward momentum is not strong, and it is under pressure at 3215, then you can continue to go short in the short term.
GOLD XAUUSD XAUUSD
Let's analyze it from the technical side: the rhythm of gold has changed rapidly recently, and next Monday is actually the key. The 1-hour moving average of gold has begun to show signs of turning around, so whether it can form a golden cross upwards is the key next time, or it will oscillate a few times and continue to diverge downward. The strength of gold on Monday is very critical. Gold closed with a big positive line on Thursday, which was a very fast trend. However, it fell directly on Tuesday and broke through more than half, so it cannot be said that the bulls are strong. Although it rebounded slightly in the late trading, it still closed with a big negative line. There will be two key positions on Monday next week. Pay attention to 3180 on the bottom of gold. If it falls below 3180 soon after the opening on Monday, then gold will still be weak as a whole. Pay attention to 3215 on the top. If gold breaks through 3215, then gold will be strong as a whole. If gold opens flat on Monday and the upward momentum is not strong, and it is under pressure at 3215, then you can continue to go short in the short term.
GOLD XAUUSD XAUUSD Trade active
The mentality of trading is very important. At the same time, you need to have clear ideas and decisive actions. Gold has been in a state of rapid growth. Many people are easily led to big losses by a small mistake. If you are worried about the loss at this time, you can choose to observe our daily operations. More valuable operations are often when everyone dares not to act. The calmer you are, the closer you are to the opportunity, which makes our profits very considerable.
For every friend who proposes cooperation, I will do my best and use my professional strength to help you make profits. I have helped many members achieve stable profits. Directly click on the free witness telegram group:t.me/TP_Daniel1
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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.
For every friend who proposes cooperation, I will do my best and use my professional strength to help you make profits. I have helped many members achieve stable profits. Directly click on the free witness telegram group:t.me/TP_Daniel1
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.