Gold prices continue to fluctuate in a range (3285-3360)
This week, the financial market will usher in a series of key events and important economic data, which may cause sharp market fluctuations.
1: The Bank of Japan is about to announce its interest rate decision, which may have a significant impact on the exchange rate trends of major currencies such as the US dollar and the yen.
2: The US non-farm payrolls data will be released on May 2. Before that, important economic data such as the US GDP growth rate in the first quarter and the PCE price index will also be released one after another.
The financial market will be turbulent again this week.
At present, market uncertainty is still high, mainly because two key factors are still unclear.
First: The United States has an erratic attitude on tariff policy, and Trump's related measures are constantly changing, bringing many variables to the market;
Second: The situation of the Russia-Ukraine conflict is still deadlocked, and the real ceasefire turning point seems to have not yet appeared, and geopolitical risks continue to shroud the market.
Combining the above two factors, it is expected that the market will continue to fluctuate in the short term.
From a technical perspective
Today, gold prices fell sharply from a high of $3,336 to $3,268.
During the European trading session, gold prices bottomed out for the second time, falling to $3,273.
Boosted by the weakening of the US dollar index, gold prices bottomed out and rebounded. From the 2-hour chart, bulls began to gain the upper hand, and the market is expected to continue the upward trend.
However, from the medium-term trend, as long as the price fails to break through the $3380-3408 range, the overall bearish pattern will remain.
Short-term operation:
Lower support: $3320-3310, strong support at $3300;
Upper resistance: $3335-3345, strong resistance at $3360;
The four-hour cycle chart shows:
Wide range: $3285-3360 is still valid. Both long and short strategies have opportunities this week. It is necessary to consider the Asian holiday factor and try to avoid and pay attention to emotional fluctuations during the Asian session.
This week, the financial market will usher in a series of key events and important economic data, which may cause sharp market fluctuations.
1: The Bank of Japan is about to announce its interest rate decision, which may have a significant impact on the exchange rate trends of major currencies such as the US dollar and the yen.
2: The US non-farm payrolls data will be released on May 2. Before that, important economic data such as the US GDP growth rate in the first quarter and the PCE price index will also be released one after another.
The financial market will be turbulent again this week.
At present, market uncertainty is still high, mainly because two key factors are still unclear.
First: The United States has an erratic attitude on tariff policy, and Trump's related measures are constantly changing, bringing many variables to the market;
Second: The situation of the Russia-Ukraine conflict is still deadlocked, and the real ceasefire turning point seems to have not yet appeared, and geopolitical risks continue to shroud the market.
Combining the above two factors, it is expected that the market will continue to fluctuate in the short term.
From a technical perspective
Today, gold prices fell sharply from a high of $3,336 to $3,268.
During the European trading session, gold prices bottomed out for the second time, falling to $3,273.
Boosted by the weakening of the US dollar index, gold prices bottomed out and rebounded. From the 2-hour chart, bulls began to gain the upper hand, and the market is expected to continue the upward trend.
However, from the medium-term trend, as long as the price fails to break through the $3380-3408 range, the overall bearish pattern will remain.
Short-term operation:
Lower support: $3320-3310, strong support at $3300;
Upper resistance: $3335-3345, strong resistance at $3360;
The four-hour cycle chart shows:
Wide range: $3285-3360 is still valid. Both long and short strategies have opportunities this week. It is necessary to consider the Asian holiday factor and try to avoid and pay attention to emotional fluctuations during the Asian session.
t.me/+dyD5wnqZSUFlZjQx
Enjoy trading Enjoy life The best trading team
Enjoy trading Enjoy life The best trading team
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.
t.me/+dyD5wnqZSUFlZjQx
Enjoy trading Enjoy life The best trading team
Enjoy trading Enjoy life The best trading team
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.