💡 XAUUSD: Deep drop after important news

4 בינו׳

The recent Palestinian-Israeli conflict and the dovish turn of the Federal Reserve have contributed to a rise in gold prices. The market may have relatively fully priced in short-term factors. Recent Red Sea shipping problems have pushed up global shipping rates and could increase U.S. inflation volatility. In a neutral economic scenario, after the Fed stops raising interest rates and before it starts cutting interest rates, gold could be more volatile than other assets.

We could see gold fall further and fall below the 48-hour moving average. However, the MACD double line and histogram bar converge below the zero axis. Once the rate cuts begin, gold's returns will be significantly better than stocks, commodities and other assets within 6 months.

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5 בינו׳

הערה

5 בינו׳

הערה

Gold's 4-day losing streak could not continue yesterday, after the price rebounded. However, the rising bar D1 yesterday had a narrow amplitude, had a long shadow above and closed below 1/2, thereby showing that the upward pressure was weak. This D1 bar is also located inside the previous D1 bar to create an inside bar model, and has the narrowest amplitude among recent D1 bars, forming a Narrow Range bar. Combo price action inside bar + Narrow Range Bar suggests the possibility that D1 gold is about to have strong fluctuations. The chart structure is sideways with a bullish bias.

H1 gold did not continue its downward trend but moved sideways yesterday. The current upswing can create a structure of 02 upswings, which is a complex retracement structure. You can wait for the current uptrend to balance with the previous uptrend and then sell down again.