Gold: Rebound or Retreat?
Hello everyone! Today i want to share some macro analysis with you!
1.
H1 trend, $XAU/USD(XAUUSD.FOREX)$ there are signs of stabilisation, which is a signal to rise, the Asian market gold has broken through the 2412 resistance, there is a further upward momentum, trading on the buy-single trading!
Strategy: XAUUSD choose to enter a buy order at 2410-13, TP:2420-23-25 SL ：2406 （according to personal habits set!）
2.
I was dealing with some personal matters in the past two days, so I didn't update my tweets in time. I'm really sorry!
Today, XAUUSD hit 2410 and started to rebound! It meets my buy strategy in the European market. The current price has reached 2428! Successfully reached TP! I hope you can make a profit according to the strategy!
3.
News: Thursday (July 25) in the Asian market, spot gold suddenly appeared very violent fluctuations in the trend, the gold price short-term plummeted more than 30 U.S. dollars, once more than two weeks low to 2366.74 U.S. dollars / ounce. With the gold price fell below the $2385 / ounce support level, the gold trend has become vulnerable. The price of gold extended the previous day's sharp pullback move from weekly highs and came under heavy selling pressure for the second consecutive day. The decline, while lacking a clear fundamental driver, still dragged gold to a two-week low, touching near $2,370 per ounce during the Asian session. The fall in gold prices could be attributed to some technical selling, although it is likely to remain limited. Fed rate cut bets for September and risk aversion could provide support ahead of US data.
There is a need for caution before a big bearish move in gold prices as traders eagerly await US Q2 GDP data later on Thursday for fresh impetus. However, the market's focus will remain on Friday's release of the US Personal Consumption Expenditure (PCE) price index, which will play a key role in influencing the Federal Reserve's policy path and provide fresh directional momentum for gold. However, the market has fully priced in a Fed rate cut in September, in addition, the former New York Fed President Dudley also said it changed its long been in the "keep rates high for longer" camp, and changed to the view that the Fed should cut rates, preferably at next week's interest rate meeting to start.
So, no matter how good the intraday GDP and Friday's June US core PCE price index annual rate, are only in the short term to create pressure on gold prices, that is, also for the September or September after the bullish climb to create entry opportunities. Intraday will focus on the United States to July 20 when the weekly number of initial jobless claims (10,000 people), the United States second-quarter real GDP annualised quarterly rate of the initial value, the United States second-quarter core PCE price index annualised quarterly rate of the initial value of the U.S. durable goods orders for June and other data, the market's overall expectations are biased in favour of the short gold prices, and thus today's gold price operation can still be high to see the fall. $Gold - main 2408(GCmain)$
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