XAUUSD| Beware of Rapid Fall from High Levels
✅In the past two days, the price of gold has been in a range of fluctuations, and the market has shown disorderly fluctuations, accompanied by repeated washing. However, supported by the previous weekly big positive line, the overall trend this week is still bullish. However, due to the obvious pressure from above, it may be difficult to break through last month's high of 2726. Although the gold price rebounded from a dip last night and once exceeded the intraday high, the increase was relatively limited. The current trend remains below 2690, and the market is still weak. In terms of short-term strategy, it is recommended to continue to rely on the upper pressure level to short at highs.
✅Daily level: At present, the "K-line multi-party cannon" pattern of two positives and one negative has been formed, indicating that the bullish power is gradually accumulating. After repeated shocks and washing, the bulls may exert their strength again during the US trading session, and the possibility of breakthroughs should be focused on.
✅4-hour level: The gold price is currently running around the short-term moving average, and the overall trend shows a strong shock pattern. In the short term, the shock upward trend may continue, but the momentum is limited, and we still need to be vigilant about the effectiveness of the upper suppression.
✅1-hour level: The short-term trend is slightly weak and may face certain adjustment pressure. On the upside, we need to pay attention to the short-term suppression of the 2686-2690 line, especially the key resistance level of 2690. If this position is broken, the further bullish target is the strong pressure range of 2696-2700. On the downside, pay attention to the short-term support area of 2660-2656. If it falls below this support, it may trigger a further decline.
✅Intraday trading strategy
🔰Short: If the price touches the 2686-2690 area, you can try short orders with a light position, and the target is 2660-2656.
🔰Long: If the gold price falls back to the 2660-2656 area, you can consider arranging long orders, and the target is 2690 and 2700.
🔶Strictly control risks, adjust positions according to key resistance and support levels, and remain flexible.
✅The current trend of gold is still dominated by shocks, but the bullish trend has not completely subsided. Investors are advised to remain cautious, respond flexibly within the range, and pay close attention to the breakthrough of the key resistance level of 2690 and the effectiveness of the support of 2660-2656.
✅Daily level: At present, the "K-line multi-party cannon" pattern of two positives and one negative has been formed, indicating that the bullish power is gradually accumulating. After repeated shocks and washing, the bulls may exert their strength again during the US trading session, and the possibility of breakthroughs should be focused on.
✅4-hour level: The gold price is currently running around the short-term moving average, and the overall trend shows a strong shock pattern. In the short term, the shock upward trend may continue, but the momentum is limited, and we still need to be vigilant about the effectiveness of the upper suppression.
✅1-hour level: The short-term trend is slightly weak and may face certain adjustment pressure. On the upside, we need to pay attention to the short-term suppression of the 2686-2690 line, especially the key resistance level of 2690. If this position is broken, the further bullish target is the strong pressure range of 2696-2700. On the downside, pay attention to the short-term support area of 2660-2656. If it falls below this support, it may trigger a further decline.
✅Intraday trading strategy
🔰Short: If the price touches the 2686-2690 area, you can try short orders with a light position, and the target is 2660-2656.
🔰Long: If the gold price falls back to the 2660-2656 area, you can consider arranging long orders, and the target is 2690 and 2700.
🔶Strictly control risks, adjust positions according to key resistance and support levels, and remain flexible.
✅The current trend of gold is still dominated by shocks, but the bullish trend has not completely subsided. Investors are advised to remain cautious, respond flexibly within the range, and pay close attention to the breakthrough of the key resistance level of 2690 and the effectiveness of the support of 2660-2656.
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