GOLD: Continue to be bearish in the short term, 1950 Sell
Due to the upcoming Federal Reserve announcement, gold is currently trading in a narrow range, but the bearish trend remains unchanged. The European market maintains a bearish outlook and relies on the resistance level of 1950 to go short.
Gold experienced a significant decline yesterday and is currently trading in a consolidation phase, which is a continuation of the downtrend. From a technical perspective, gold is in a short-term downtrend, with support at the 1935 level for a short-term adjustment. The resistance levels above are at 1945 and 1952, and can be shorted directly upon touching.
Plan your trades and trade your plan. Exercise patience during narrow range trading, and as long as you have the right direction, don't be afraid of the long road ahead. Hold short positions and wait for new lows.
Specific strategy: Short at 1950 with a stop loss at 1957 and a profit target of 1930.
GOLD
XAUUSD
Gold experienced a significant decline yesterday and is currently trading in a consolidation phase, which is a continuation of the downtrend. From a technical perspective, gold is in a short-term downtrend, with support at the 1935 level for a short-term adjustment. The resistance levels above are at 1945 and 1952, and can be shorted directly upon touching.
Plan your trades and trade your plan. Exercise patience during narrow range trading, and as long as you have the right direction, don't be afraid of the long road ahead. Hold short positions and wait for new lows.
Specific strategy: Short at 1950 with a stop loss at 1957 and a profit target of 1930.
GOLD
XAUUSD
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Do it if you have a chance in the day, wait and see if you don’t have a chance
