📰 Analysis of Gold's News Background 👉 Join in
During the US trading session on Thursday (May 1st), spot gold continued its downward trend, hovering around $3,216.55 per ounce, with a decline of approximately 0.4%. It had already fallen for two consecutive days before that. On Wednesday, it even reached $3,267.07, getting close to the key support level of $3,265, which was set last week. The market's bull-bear tug-of-war stems from the divergence in expectations of the Federal Reserve's policies: The weak US economic data has boosted the expectation of an interest rate cut, but the rebound of the US dollar index and US Treasury yields has suppressed the safe-haven nature of gold.
⚠️ Key Focuses for the Day 👉 Join in
Pay attention to the Bank of Japan's monetary policy decision, the data on job cuts by US enterprises in April, the final value of the manufacturing PMI, and the number of initial jobless claims. Also, keep an eye on geopolitical and trade dynamics!
📈 Quick Look at the Technical Analysis of Gold
On the eve of the Nonfarm Payrolls report, how should we choose between going long and short on gold?
🔹 Daily Chart: Closed lower with a medium-sized bearish candlestick. In the early trading session, it broke below the key support level of $3,265, confirming the end of the Wave B rebound and the start of the Wave C decline. Continue with the strategy of "going short on rebounds".
🔹 4-Hour Chart: The downward space was broken open, and the bears are in control after the top-bottom conversion.
🔹 1-Hour Chart: The moving averages formed a bearish crossover, and the gold price broke below the previous low. When it rebounds to the densely traded area near $3,265, go short without hesitation! 💥
⚡️⚡️⚡️ XAUUSD ⚡️⚡️⚡️
🚀 Sell@3230 - 3220
🚀 TP 3210 - 3200
Accurate signals are updated every day 📈 If you encounter any problems during trading, these signals can serve as your reliable guide 🧭 Feel free to refer to them! I sincerely hope they'll be of great help to you 🌟 👇
During the US trading session on Thursday (May 1st), spot gold continued its downward trend, hovering around $3,216.55 per ounce, with a decline of approximately 0.4%. It had already fallen for two consecutive days before that. On Wednesday, it even reached $3,267.07, getting close to the key support level of $3,265, which was set last week. The market's bull-bear tug-of-war stems from the divergence in expectations of the Federal Reserve's policies: The weak US economic data has boosted the expectation of an interest rate cut, but the rebound of the US dollar index and US Treasury yields has suppressed the safe-haven nature of gold.
⚠️ Key Focuses for the Day 👉 Join in
Pay attention to the Bank of Japan's monetary policy decision, the data on job cuts by US enterprises in April, the final value of the manufacturing PMI, and the number of initial jobless claims. Also, keep an eye on geopolitical and trade dynamics!
📈 Quick Look at the Technical Analysis of Gold
On the eve of the Nonfarm Payrolls report, how should we choose between going long and short on gold?
🔹 Daily Chart: Closed lower with a medium-sized bearish candlestick. In the early trading session, it broke below the key support level of $3,265, confirming the end of the Wave B rebound and the start of the Wave C decline. Continue with the strategy of "going short on rebounds".
🔹 4-Hour Chart: The downward space was broken open, and the bears are in control after the top-bottom conversion.
🔹 1-Hour Chart: The moving averages formed a bearish crossover, and the gold price broke below the previous low. When it rebounds to the densely traded area near $3,265, go short without hesitation! 💥
⚡️⚡️⚡️ XAUUSD ⚡️⚡️⚡️
🚀 Sell@3230 - 3220
🚀 TP 3210 - 3200
Accurate signals are updated every day 📈 If you encounter any problems during trading, these signals can serve as your reliable guide 🧭 Feel free to refer to them! I sincerely hope they'll be of great help to you 🌟 👇
Trade active
Yesterday's profit target has been reached. Now, the price of gold is rebounding and rising, and it may continue to rise to around 3,300
📢Weekly profit :300% - 500%
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📢JOIN OUR FREE TELEGRAM GROUP
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Disclaimer
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📢Weekly profit :300% - 500%
t.me/+OjXw8IBwWg81ZDY0
📢JOIN OUR FREE TELEGRAM GROUP
t.me/+OjXw8IBwWg81ZDY0
📢Free signals are updated every day
t.me/+OjXw8IBwWg81ZDY0
t.me/+OjXw8IBwWg81ZDY0
📢JOIN OUR FREE TELEGRAM GROUP
t.me/+OjXw8IBwWg81ZDY0
📢Free signals are updated every day
t.me/+OjXw8IBwWg81ZDY0
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.