XAUUSD: 11/3 Today’s Market Analysis and Strategy
Gold maintained its rebound on Monday, with gold prices currently sitting around $2,180. Gold gained bullish momentum last week, hitting a new all-time high above $2,190, driven by falling U.S. Treasury yields and broad-based selling pressure in the U.S. dollar. Spot gold remains technically overbought ahead of key U.S. inflation data this week.
Data on rising U.S. unemployment has boosted expectations that the Federal Reserve may soon begin cutting interest rates. The dollar index fell 1.1% last week, hitting its lowest level since January 15 at 102.32, making gold cheaper for overseas buyers, while 10-year U.S. Treasury yields fell to more than a month low.
Starting last Tuesday, gold started a streak of record-setting trends, surpassing its December peak, mainly due to growing signs that price pressures are cooling down, as well as gold's traditional safe-haven appeal. In addition, central banks of various countries continue to rapidly increase their gold holdings, which also provides support for gold prices. Overall, the outlook for gold remains generally bullish, driven by a combination of expected lower interest rates, a weaker U.S. dollar and continued demand as a safe-haven asset.
Looking ahead to the week ahead, the biggest event risk for gold is the U.S. Consumer Price Index (CPI) report for February, which could create some selling pressure on the precious metal if inflation is higher than expected. Gold is overbought in the short term, but long-term returns suggest there is more room for gold prices to rise.
Gold technical analysis
Daily resistance is 2200, support below is 2150-24
Four-hour resistance is 2200, support below is 2167-53
Gold operation suggestions:
Gold has been super strong recently, with the highest reaching the 2195 line, and the weekly closing of the positive line. The bulls not only set a new historical high, but also set the largest unilateral increase in a single week in recent years. There is no doubt about the bullish trend. This week's major trend We continue to be bullish, but Friday's big pullback shows that the bulls have begun their final struggle. There is no unilateral rise, and there are still short-term opportunities for decline.
Today, the short-term support at the bottom will focus on the four-hour 2167 area. During the day, the support will rely on this position to continue to be bullish. The short-term pressure at the top is in the 2190-95 area.
BUY:2165~2070
BUY:2147~2054
SELL:2194~2200
Data on rising U.S. unemployment has boosted expectations that the Federal Reserve may soon begin cutting interest rates. The dollar index fell 1.1% last week, hitting its lowest level since January 15 at 102.32, making gold cheaper for overseas buyers, while 10-year U.S. Treasury yields fell to more than a month low.
Starting last Tuesday, gold started a streak of record-setting trends, surpassing its December peak, mainly due to growing signs that price pressures are cooling down, as well as gold's traditional safe-haven appeal. In addition, central banks of various countries continue to rapidly increase their gold holdings, which also provides support for gold prices. Overall, the outlook for gold remains generally bullish, driven by a combination of expected lower interest rates, a weaker U.S. dollar and continued demand as a safe-haven asset.
Looking ahead to the week ahead, the biggest event risk for gold is the U.S. Consumer Price Index (CPI) report for February, which could create some selling pressure on the precious metal if inflation is higher than expected. Gold is overbought in the short term, but long-term returns suggest there is more room for gold prices to rise.
Gold technical analysis
Daily resistance is 2200, support below is 2150-24
Four-hour resistance is 2200, support below is 2167-53
Gold operation suggestions:
Gold has been super strong recently, with the highest reaching the 2195 line, and the weekly closing of the positive line. The bulls not only set a new historical high, but also set the largest unilateral increase in a single week in recent years. There is no doubt about the bullish trend. This week's major trend We continue to be bullish, but Friday's big pullback shows that the bulls have begun their final struggle. There is no unilateral rise, and there are still short-term opportunities for decline.
Today, the short-term support at the bottom will focus on the four-hour 2167 area. During the day, the support will rely on this position to continue to be bullish. The short-term pressure at the top is in the 2190-95 area.
BUY:2165~2070
BUY:2147~2054
SELL:2194~2200
Trade active:
Gold is falling as planned
Trade active:
member signal
XAUUSD 3 Lot
SELL: 2180near
XAUUSD 3 Lot
SELL: 2180near
Trade active:
XAUUSD Lot
BUY: 2182near
❌sl:2172
✅tp:2195
BUY: 2182near
❌sl:2172
✅tp:2195
Trade active:
On the first day of daylight saving time, the market fluctuated little.
Trade active:
BUY profit expansion
Trade active:
Today's profit, continue tomorrow
Trade active:
Gold is behaving like the chart I drew this morning
Trade active
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