XAUUSD:Trend analysis

Analysis of the gold market shows that gold began to rise after falling to 1973 in the Asian market, and then began to retreat after reaching a maximum of 1985. In the 4-hour period, the technical side of gold showed shock adjustments, MA5 and MA10 were running dead crosses, MACD showed a green energy column, and the KDJ fast line was close to 20 zero draw. Gold is currently in a correction after rising in the morning. As long as the correction does not break 1970, the current long-short dividing line for gold adopts a low-long strategy. At the same time, we need to pay attention to the support of 1970 below, which is the support level for gold's strong rebound. If it breaks, focus on the rising point of 1955 below. Now that the backtest does not break 1970, gold may rise sharply next, and the top will continue to look around 2000-2010.

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On the whole, the 1-hour chart shows that the stochastic indicator is temporarily passivated and the range is flattening. The short-term pressure within the day is at 1985, followed by around 1990. On the 30-minute chart, the short-term range is 1985-1973, and the operation is still long on dips. The upper pressure is located at 1985-1990, and the lower support is at 1973-1970. Breaking through 1970 may open up downside space, with the target looking towards 1955.

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Gold operation strategy: It is recommended to go long in 1973-1975, stop loss 1969, and target around 1982-1985. It is recommended to go short in 1985-1983, stop loss 1990, and target around 1975-1973.

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