[XAUUSD] Three way idea
Dear followers and traders, have a great day
The following is my Idea sharing for XAUUSD
----- Fundamental logical thinking
XAUUSD fell more than 1.6% on Monday, giving the overall market price a bearish start to the week, likely reflecting more hawkish Federal Reserve monetary policy expectations.
The main reason for this may be the reconfirmation of market prices brought by last week's NFP data, which highlighted the health and vitality of the service sector, which may also indicate solid consumer spending. The latter is the most significant part of GDP. This puts the XAU/USD focus on general risk appetite. This could leave gold vulnerable if the market continues to focus on the impact of the NFP and ISM service reports.
----- Chart technical analysis
After the performance of gold on Monday, it left a resistance signal in the 1-hour period. From then on, the signal may leave the possibility of reversing the previous increase. Therefore, you may wish to pay attention to the support given by the previous low. Judging from the current ups and downs , It is impossible to define the end of the rise, and it is also impossible to define the beginning of the downward trend. Looking at the rhythm of the previous order, it can only be defined as the slowdown of the market's rising speed. The market also responded to the price action again near the critical time resistance price of 1809.
The three-colour path in the picture is my thoughts on the market direction. You might as well try the market layout and trading plan after waiting for the direction to appear.
----- Conclusion
Trade what you see, trade as much as you can, and let your balance grow with your actions.
The following is my Idea sharing for XAUUSD
----- Fundamental logical thinking
XAUUSD fell more than 1.6% on Monday, giving the overall market price a bearish start to the week, likely reflecting more hawkish Federal Reserve monetary policy expectations.
The main reason for this may be the reconfirmation of market prices brought by last week's NFP data, which highlighted the health and vitality of the service sector, which may also indicate solid consumer spending. The latter is the most significant part of GDP. This puts the XAU/USD focus on general risk appetite. This could leave gold vulnerable if the market continues to focus on the impact of the NFP and ISM service reports.
----- Chart technical analysis
After the performance of gold on Monday, it left a resistance signal in the 1-hour period. From then on, the signal may leave the possibility of reversing the previous increase. Therefore, you may wish to pay attention to the support given by the previous low. Judging from the current ups and downs , It is impossible to define the end of the rise, and it is also impossible to define the beginning of the downward trend. Looking at the rhythm of the previous order, it can only be defined as the slowdown of the market's rising speed. The market also responded to the price action again near the critical time resistance price of 1809.
The three-colour path in the picture is my thoughts on the market direction. You might as well try the market layout and trading plan after waiting for the direction to appear.
----- Conclusion
Trade what you see, trade as much as you can, and let your balance grow with your actions.
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