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💡Message Strategy
After hitting a record high last week, gold prices briefly encountered resistance and pulled back. However, buoyed by expectations of a Fed rate cut, gold prices remained stable above $3,600, fluctuating at a high level. The overall bullish trend remains strong.
Market news remained largely unchanged. Earlier, Fed Chairman Powell delivered a dovish speech, indicating downside risks in the job market and the possibility of a Fed rate cut. The subsequent release of dismal US non-farm payroll data, with new initial jobless claims reaching a four-year high, signaled a continued cooling in the labor market and further validated Powell's comments.
Furthermore, US President Trump has repeatedly pressured the Fed to slash interest rates as soon as possible. These factors have fueled high market expectations for a Fed rate cut, driving gold's recent rally. Although the rally encountered resistance last week, the rate cut and the international situation have limited any decline in gold prices.
📊Technical aspects
Initial jobless claims in the United States hit a nearly four-year high, further solidifying expectations of a Federal Reserve rate cut. This led to a short-term plunge in the US dollar and US Treasury yields, pushing gold prices back from their lows. Market expectations for a Fed rate cut remain high, providing significant support for gold prices.
Therefore, we recommend a volatile upward trend. Focus on support at $3,640, followed by $3,620, and upward pressure at $3,670.
From a technical perspective, the daily RSI remains in overbought territory, indicating limited short-term upward momentum and the possibility of continued range-bound consolidation. A break above the $3,658 resistance level could push the price back towards the all-time high of $3,675 and further challenge the psychological barrier of $3,700.
💰Strategy Package
Long Position:3640，SL:3620，Target:3680-3700
💡Message Strategy
After hitting a record high last week, gold prices briefly encountered resistance and pulled back. However, buoyed by expectations of a Fed rate cut, gold prices remained stable above $3,600, fluctuating at a high level. The overall bullish trend remains strong.
Market news remained largely unchanged. Earlier, Fed Chairman Powell delivered a dovish speech, indicating downside risks in the job market and the possibility of a Fed rate cut. The subsequent release of dismal US non-farm payroll data, with new initial jobless claims reaching a four-year high, signaled a continued cooling in the labor market and further validated Powell's comments.
Furthermore, US President Trump has repeatedly pressured the Fed to slash interest rates as soon as possible. These factors have fueled high market expectations for a Fed rate cut, driving gold's recent rally. Although the rally encountered resistance last week, the rate cut and the international situation have limited any decline in gold prices.
📊Technical aspects
Initial jobless claims in the United States hit a nearly four-year high, further solidifying expectations of a Federal Reserve rate cut. This led to a short-term plunge in the US dollar and US Treasury yields, pushing gold prices back from their lows. Market expectations for a Fed rate cut remain high, providing significant support for gold prices.
Therefore, we recommend a volatile upward trend. Focus on support at $3,640, followed by $3,620, and upward pressure at $3,670.
From a technical perspective, the daily RSI remains in overbought territory, indicating limited short-term upward momentum and the possibility of continued range-bound consolidation. A break above the $3,658 resistance level could push the price back towards the all-time high of $3,675 and further challenge the psychological barrier of $3,700.
💰Strategy Package
Long Position:3640，SL:3620，Target:3680-3700
Trade ist aktiv
Gold bulls are still obvious, and bullishness is still the main theme
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Verbundene Veröffentlichungen
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.