XAUUSD: 2/5 Prioritize long positions at low prices today
In the Asian market on Thursday, gold fluctuated within a narrow range and is currently trading at 2320, holding on to most of the overnight gains. After the Federal Reserve kept interest rates unchanged for the sixth time and announced that it would slow down the pace of balance sheet reduction, the price of gold rose sharply above the 2300 milestone and once reached a daily high of 2328. In addition, Federal Reserve Chairman Jerome Powell failed to provide forward guidance on interest rate cuts for the remainder of this year. Affected by this, the U.S. dollar index fell sharply and gold soared nearly $33.
In terms of data, U.S. private employment (ADP) increased more than expected in April, suggesting that the labor market maintains momentum at the beginning of the second quarter. However, job vacancies in the United States fell to the lowest level in three years in March, and the number of resignations fell. These signs indicate that labor market conditions have loosened. The U.S. ISM manufacturing PMI fell back in April, which also provided support for gold.
In addition, the ongoing war in the Middle East has also provided support for gold prices. The Israel Defense Forces stated on May 1 that Israel dispatched fighter jets to conduct air strikes on multiple military targets of the Palestinian Islamic Resistance Movement (Hamas) and the Palestinian Islamic Jihad (Jihad) in the Gaza Strip, including weapons depots, military buildings, and rockets. bomb and mortar launching points, etc.
This trading day will release changes in the number of initial jobless claims in the U.S., the U.S. trade balance in March, the number of layoffs by challenger companies in the U.S. in April, and the monthly rate of U.S. factory orders in March. Investors need to focus on this. In addition, pay attention to the announcements from Federal Reserve officials. speech.
Technical
Gold's daily sun ended strongly. Under the influence of data, gold bulls formed a second surge in volume yesterday. The current daily chart is close to the MA10 daily moving average of 2328, and the closing price in New York stands above the MA5 daily moving average of 2320. The daily structure is idle and multi-form! The short-period four-hour chart is back on the middle track of the Bollinger Bands, the RSI indicator is running above the central axis, and the moving average system low of 2300 forms a golden cross opening upward. The trading idea remains low and long, supplemented by high altitude.
Asian market analysis
1H resistance is 2336, support below is 2313
4H resistance is 2343, support below is 2300
Daily resistance is 2355, support below is 2289
✅Asian market strategy:
BUY:2303~2305 SL:2295
SELL:2338~2340 SL:2350
Asian market strategy NY time is invalid
In terms of data, U.S. private employment (ADP) increased more than expected in April, suggesting that the labor market maintains momentum at the beginning of the second quarter. However, job vacancies in the United States fell to the lowest level in three years in March, and the number of resignations fell. These signs indicate that labor market conditions have loosened. The U.S. ISM manufacturing PMI fell back in April, which also provided support for gold.
In addition, the ongoing war in the Middle East has also provided support for gold prices. The Israel Defense Forces stated on May 1 that Israel dispatched fighter jets to conduct air strikes on multiple military targets of the Palestinian Islamic Resistance Movement (Hamas) and the Palestinian Islamic Jihad (Jihad) in the Gaza Strip, including weapons depots, military buildings, and rockets. bomb and mortar launching points, etc.
This trading day will release changes in the number of initial jobless claims in the U.S., the U.S. trade balance in March, the number of layoffs by challenger companies in the U.S. in April, and the monthly rate of U.S. factory orders in March. Investors need to focus on this. In addition, pay attention to the announcements from Federal Reserve officials. speech.
Technical
Gold's daily sun ended strongly. Under the influence of data, gold bulls formed a second surge in volume yesterday. The current daily chart is close to the MA10 daily moving average of 2328, and the closing price in New York stands above the MA5 daily moving average of 2320. The daily structure is idle and multi-form! The short-period four-hour chart is back on the middle track of the Bollinger Bands, the RSI indicator is running above the central axis, and the moving average system low of 2300 forms a golden cross opening upward. The trading idea remains low and long, supplemented by high altitude.
Asian market analysis
1H resistance is 2336, support below is 2313
4H resistance is 2343, support below is 2300
Daily resistance is 2355, support below is 2289
✅Asian market strategy:
BUY:2303~2305 SL:2295
SELL:2338~2340 SL:2350
Asian market strategy NY time is invalid
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NY market gold technical analysisDaily resistance 2343, support 2300-2289
Four-hour resistance is 2328, support is 2300
SELL:near 2328
SELL:near 2320
BUY:near 2330
Technical analysis only provides trading direction!
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After breaking support, we sold from 2311 and made two scalping profits Trade active
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Focus on the two positions 2320/2311 above.Trade active
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Shorts win big today Trade active
Going short today is in line with the trend, going long will only take your scalp! The profit of about 30pips must be closed, otherwise you may be trapped at any time Trade active
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XAUUSD BUY:2303 near
SL:2297
TP1: 2306 TP2:2309 TP3:2313
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NFP is released today, trade with caution and scalp profits. We will stop trading at NY time Trade active
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Trade closed: stop reached
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