GOLD-range trading

The U.S. Department of Labor's Bureau of Labor Statistics said on Wednesday that the consumer price index (CPI) rose 0.4% month-on-month in March, the same as February's increase. Gasoline prices rose 1.7% in March after rising 3.8% in February. Housing costs, including rent, rose 0.4%, the same increase as February. If Fed officials were leaning toward a rate cut at the start of the year given last year's rapid decline in inflation, the minutes showed the weight of the evidence may be shifting. Current market forecasts indicate that the probability of keeping interest rates unchanged in May is 96.8%, the probability of keeping interest rates unchanged in June has risen to 81.1%, the probability of keeping interest rates unchanged in July has risen to 55.1%, and the probability of cutting interest rates in September has also increased. Only 68.6%. Today, Thursday, pay attention to the changes in the number of initial jobless claims in the United States and the performance of PPI data in March, pay attention to the speeches of Federal Reserve officials, and pay attention to news related to the geopolitical situation in the Middle East.

Yesterday I emphasized that this CPI data is expected to be positive for the US dollar and negative for gold, so you will make profits by following the trend. However, gold is still an upward trend under risk aversion, with a maximum of 2352, and is currently fluctuating repeatedly.

We need to pay attention to this trend. I have also reminded that gold has entered the overbought risk zone before, but we cannot blindly guess the top. Without breaking through 2365, we will temporarily use 2365 as the resistance point. From a technical point of view, yesterday the daily gold line finally It ended gold’s continuous upward trend, but it has not yet fallen below the 10-day line and is still in an upward trend.

Gold is still on an upward trend for the time being, but today gold may fluctuate in a range. The 4H cycle is an obvious closing performance. 2318 is a double bottom and an important support point for the Bollinger Band.

The large range of gold today is 2318-2365, and the small range is 2318-2352. You can try to trade within the above range, set the SL, and control the position, you can increase your probability of profit.

Follow me in trading, your success rate will be greatly increased, join me and contact me

Comment:

follow strategy

Trade active

Comment:

There is little volatility today and there are many opportunities