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On Monday, gold closed slightly lower as Trump's comments on EU tariffs boosted market risk appetite. Today, it retreated and rose in the morning and now fell below our early long position again. In the short term, gold has lost its positive momentum, but it is impossible to fall more sharply. As investors weigh the prospects of improved trade relations between the United States and the European Union, the demand for safe-haven assets has cooled, and gold prices have maintained a downward trend.
Today's risk data warning!
At 20:30 today, the initial value of US durable goods orders in April will be released, and the monthly rate is expected to fall by 7.9%, after an increase of 9.2% in March
At 22:00 today, the US Conference Board Consumer Confidence Index for May will be released, and it is expected to be 87.2, and the previous value is 86.0.
Views on the trend of gold in the European session!
Gold rose and then fell yesterday, and the final rebound stopped at 3365. The trend is in line with our trend of volatility. As for today's market decline and break, it is a normal market! In addition, it has not broken through 3370 and has been under pressure, and the decline continued in the morning today. Since the support position of 3300 is close to the bottom, it is not appropriate to chase the short position!
In terms of trend, gold lacks the upward momentum at the 4-hour level, and the market falls after the upper resistance. This week's market has been maintained in the small range of 3330 and 3370. It is inevitable that the breakout will accelerate. At present, the bulls are under pressure. Unlike last week's continuous rise, this week has a bit of weak volatility. Then we continue to maintain the high-altitude bearish and low-level bullish ideas unchanged!
Gold: Enter long orders near 3290, defend 80, and target 3325-30! Continue to follow up with short orders above 3340, defend 50, and target 3300-05!
A reliable person has an explanation for everything, a solution for everything, and a response for everything. I have been committed to the market. I will write analysis that is useful to investors and make fewer mistakes. I believe that time will tell the true heart of a person. I am Yulia. Thank you for your likes. I love you.
On Monday, gold closed slightly lower as Trump's comments on EU tariffs boosted market risk appetite. Today, it retreated and rose in the morning and now fell below our early long position again. In the short term, gold has lost its positive momentum, but it is impossible to fall more sharply. As investors weigh the prospects of improved trade relations between the United States and the European Union, the demand for safe-haven assets has cooled, and gold prices have maintained a downward trend.
Today's risk data warning!
At 20:30 today, the initial value of US durable goods orders in April will be released, and the monthly rate is expected to fall by 7.9%, after an increase of 9.2% in March
At 22:00 today, the US Conference Board Consumer Confidence Index for May will be released, and it is expected to be 87.2, and the previous value is 86.0.
Views on the trend of gold in the European session!
Gold rose and then fell yesterday, and the final rebound stopped at 3365. The trend is in line with our trend of volatility. As for today's market decline and break, it is a normal market! In addition, it has not broken through 3370 and has been under pressure, and the decline continued in the morning today. Since the support position of 3300 is close to the bottom, it is not appropriate to chase the short position!
In terms of trend, gold lacks the upward momentum at the 4-hour level, and the market falls after the upper resistance. This week's market has been maintained in the small range of 3330 and 3370. It is inevitable that the breakout will accelerate. At present, the bulls are under pressure. Unlike last week's continuous rise, this week has a bit of weak volatility. Then we continue to maintain the high-altitude bearish and low-level bullish ideas unchanged!
Gold: Enter long orders near 3290, defend 80, and target 3325-30! Continue to follow up with short orders above 3340, defend 50, and target 3300-05!
A reliable person has an explanation for everything, a solution for everything, and a response for everything. I have been committed to the market. I will write analysis that is useful to investors and make fewer mistakes. I believe that time will tell the true heart of a person. I am Yulia. Thank you for your likes. I love you.
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Our goal is simple, to provide the most professional guidance for free to help everyone make a profit
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.