XAUUSD:27/10 Today’s Trading Strategy

Yesterday, the price of gold rose to an intraday high of 1993.52 during the European trading session, but then fell back, finally closing up 0.26% at 1984.74. From a fundamental perspective, the trend of spot gold prices is affected by multiple factors. On the one hand, global economic instability, geopolitical tensions and uncertainty in financial markets will drive investors to seek safe-haven assets, thereby increasing gold prices. On the other hand, the trend of the US dollar index also has an impact on the price of gold.

Gold bulls once again tested the 1990 pressure level, but were unable to break through further due to the impact of unfavorable GDP data. Although it encountered resistance above 1990, strong support appeared in the 1970 area when it fell back, showing that the power of bulls cannot be underestimated. The market continues to observe pressure conditions around the 2000 mark, but the overall trend remains bullish. The bulls gradually took advantage, the lows continued to rise, and the highs gradually rose, showing a positive trend in market sentiment.

The gold 1-hour level shows obvious bullish rising characteristics, and the K-line continues to run above the moving average. Each correction can be supported by the moving average and rebound quickly, forming an effective trend line support. Gold is still operating according to this law. After stepping back on the moving average support in early trading, you can continue to go long, and secondly, you can continue to go long near 1980. We need to pay attention to the pressure level above, which is the high point of 1997. Once it breaks through, it will start a new band of rise. Then it is recommended that the short-term operation idea of ​​gold during the day is to mainly pull back and go long, and then consider selling at a high level. The resistance at the top focuses on the 1997-2000 line, and if the level breaks, we will continue to look at 2020. The support at the bottom focuses on the 1980-1982 line.

SELL:1997~2000
SL:2003
TP1:1990
TP2:1985

BUY:1980~1982
SL:1975
TP1:1990
TP2:1996

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Gold fell as low as 1980 and now rises to 1985

Comment:

This week's harvest is very rich, continue next week

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New week. hope everything goes well

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Every downward correction today is an opportunity to go long. It’s not that the market is not suitable or that the market is not strong. It’s that you are in the wrong position and are going in the wrong direction. If you follow the right person, you may find that there are opportunities to make money everywhere.

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Judging from the current trend, bulls are strong. It is recommended to go long at low prices today. I will share today’s strategy later.

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There is a lot of data today. Friends who trade, please remember to control your risks. If you have anything you don’t understand, you can contact me immediately.