Good morning, bros. This morning gold again tested last week's low near 3325. From the chart, gold may continue to rise this week, with tariffs approaching, the Fed's interest rate cut, and NFP data imminent. The current strength and weakness are at 3350-3355. If it can effectively break through and stand above, it is expected to continue to test the previous high point, which is also the long-short dividing point of 3370-3380.
From the daily chart, there is not much change in the operational range of gold in the short term, and the change in the 4H chart is more obvious. After the decline in the early trading, it is now rebounding. There is a possibility of closing positive at the low. If it is directly positive on Monday, then it will bottom out directly at the beginning of the week. If it refreshes the low on Monday, the low point of 3285 will be seen below. Therefore, today's market focuses on the continuity of long and short. Of course, according to the current changes, the biggest possibility is to continue to rebound at the low point, pay attention to the support of 3310-3300 below, and pay attention to the gains and losses of the high point of 3355 above.
From the daily chart, there is not much change in the operational range of gold in the short term, and the change in the 4H chart is more obvious. After the decline in the early trading, it is now rebounding. There is a possibility of closing positive at the low. If it is directly positive on Monday, then it will bottom out directly at the beginning of the week. If it refreshes the low on Monday, the low point of 3285 will be seen below. Therefore, today's market focuses on the continuity of long and short. Of course, according to the current changes, the biggest possibility is to continue to rebound at the low point, pay attention to the support of 3310-3300 below, and pay attention to the gains and losses of the high point of 3355 above.
Trade active
⚠️Timeline of important events this week, this week's news has a great impact.💥It has a great impact on many transactions such as DXY, USOIL, XAUUSD, BTCUSD, etc., so be sure to participate with a light position and set a good SL.
🕕Tuesday 18:00PM
China and the United States attend trade talks in Sweden
🕑Wednesday 14:15PM
July ADP data
🕟Wednesday 16:30PM
EIA data
🕗Wednesday 20:00PM
The Federal Reserve FOMC announces interest rate decisions.
The US Federal Reserve's interest rate decision ceiling until July 30
🕣Wednesday 20:30PM
Fed Chairman Powell holds a press conference
🕟Thursday 16:30PM
Initial jobless claims data
June core PCE price index annual rate
🕟Friday 16:30PM
July unemployment rate
NFP data
🕕Friday 18:00PM
July ISM manufacturing PMI data
July consumer confidence index
Trade closed: target reached
Perfect analysis, accurate grasp of gold trend. I told you this morning that gold would fall back to 3310-3300. Now I have achieved this goal perfectly. You are welcome to check my work.
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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.