XAUUSD(Gold)- Focuses On 2526-2528 ZONE

29 באוג׳

The recent fluctuations in gold prices have failed to continue to rise, nor have they broken through the previous highs, indicating that the market is still in a volatile trend. In such an environment, chasing the rise is not the best choice. As long as gold fails to break through the key high, it is expected that it will maintain a volatile pattern with a high probability. If gold unexpectedly breaks through a new all-time high, you can follow the trend and do long operations. At present, the gold price has repeatedly probed the 2526-2528 range but failed to break through, and the low point has not further dropped. The short-term one-hour chart shows that the market has entered a medium-term volatile situation.

Since the direction of the gold trend is not strong, the operation should be mainly high-selling and low-buying. In the evening trading session, if the gold price approaches the pressure area of ​​2526 again and fails to break through, the short-term can consider arranging short orders below 2526 and continue to follow the volatile trend. The short-term target below will see the dense support area near 2503.

On the 4-hour chart, gold is still in a volatile pattern and has formed a multi-top pattern. Given that it is currently near the historical high, the risk of chasing high is relatively high, and caution is required. From the perspective of hourly chart, today's Asian and European sessions show a slow upward trend, and the annual average line provides some support. The support of Fibonacci 0.618 retracement level is around 2505, while the key trend support is at 2500. If the gold price stabilizes at these support levels, it may rise again. The key resistance of 2529-2531 should be closely watched. Once this range is broken, the short-term trend may change. XAUUSD

30 באוג׳

עסקה פעילה

Gold Trading Strategies Reference

🎯Strategy 1: Go Sell when gold rebounds to around 2528-2530, stop loss 6 points, target around 2520-2510, break the position and look at the 2505 line✅

🎯Strategy 2: Go Buy when gold pulls back to around 2503-2505 , stop loss 6 points, target around 2515-2525, and look at the 2530 line if the position is broken✅

✴️Strategy orders are divided into two positions at 1:2 or 1:3. The two positions shall not exceed 15% of the total position. A spare position shall be reserved. All positions shall not exceed 20% of the total position;

✴️Strategy orders change SL to the entry price when the profit is more than 3 US dollars. Unless otherwise notified, the original price shall not be re-entered;

✴️Strategy orders implement current price closing, unless there is a clear statement of pending orders or positions, the strategy is only valid for the day; overnight orders are prohibited;

⚠️The trend of the gold market is changing rapidly, and trading strategies may also be adjusted in real time. Investors are advised to place orders cautiously and manage account funds and positions reasonably.

30 באוג׳

עסקה פעילה

In early trading in the European market on Friday (August 30), spot gold remained around $2,520 per ounce. On this trading day, gold traders will focus on the US PCE inflation data, which is expected to ignite the gold market.

The US personal consumption expenditure (PCE) price data for July will be released, which may provide more clues about the extent of the September rate cut. The US PCE price index is expected to increase by 2.6% year-on-year in July, after an increase of 2.5% in June. The US core PCE price index is expected to climb by 2.7% year-on-year in July, after an increase of 2.6% in the previous month. The core PCE price index is the Federal Reserve's preferred inflation indicator and the most important economic data this week, which will help determine the Fed's interest rate cut prospects after September. This data will be closely watched, especially after the upward revision of the US second-quarter GDP data on Thursday, which cooled market expectations for a sharp interest rate cut in September. The US PCE price index is an important indicator for the Federal Reserve to measure inflation, so its release has a huge impact on the market. If the core PCE data is stronger than expected, it may cause the market to re-examine the Fed's interest rate cut path, thereby putting pressure on gold prices. On the other hand, if the data is lower than expected, the market may think that the Fed will adopt a more dovish policy, which will open up room for gold prices to rise.

30 באוג׳

עסקה פעילה

Currently, gold has reached our first-stage target of 2503. We will focus on the breakthrough of 2500 in the future. If it can break through, it will enter the next stage of the target of around 2493.