Gold non-farm data we continue to be bullish

Affected by the frenzy of the Federal Reserve raising interest rates, the dollar strengthened and gold plummeted. Recently, Powell of the Federal Reserve made a fuss about raising interest rates more intensely and faster, which caused the prices of commodities and gold to plummet, the stock market fell, the market continued to be turbulent, and the short-term expectations were strong. Judging from the latest employment data in the United States, the performance of the job market continues to deteriorate. The Federal Reserve continues to accelerate the pace of interest rate hikes, and expectations for the intention to curb inflation are high.

On the one hand, due to the impact of interest rate hike expectations, gold fell, but on the other hand, due to the impact of continued high inflation, it is difficult for gold to fall sharply. The same is true for the U.S. dollar. Since the Federal Reserve raised interest rates by 75 basis points at one time, the U.S. dollar has been falling all the way, and only started to rebound after a year. But the dollar did not continue to rise. As for the follow-up, how strong the rate hike will be and whether the US dollar can rise again due to the rate hike is currently unknown and remains to be seen. And once the US dollar cannot continue to strengthen due to the continued interest rate hike, the effect of the US rate hike will be greatly reduced, and it will also bring more uncertainties and unstable factors to the financial market.

Gold, this week's sharp drop failed to continue. It rose after two consecutive trading days of low volatility, and yesterday it rose sharply to the highest line of 1835, which has changed the weak pattern. From the perspective of technical trends, it has not fallen below the new low. Instead, the bears stopped and pulled up again after 1809, and the expectation of gold breaking new lows and continuing the shorts no longer exists. From the technical point of view, yesterday’s rise has stopped falling, and gold is likely to continue to rise, coupled with the US employment data The performance was weak, and the bullish expectations for gold were somewhat boosted. It is not ruled out that gold will rise sharply again relying on the low point of 1809, and maintain a large range of shocks at the weekly level. To put it bluntly, it is still a shock. If the non-agricultural benefits are good for gold to close higher tonight, from the perspective of the weekly level, next week will be a rally.

After yesterday's straight-line rise, the short-term short-term pattern of gold has changed, and there are many non-agricultural owners within the day. Focus on the bullish opportunities in the 1825-1820 area. If the white market touches the long position, if the white market does not give the opportunity, then wait for the non-agricultural data in the US market to take the opportunity to lay out the long position. The bull's goal is still to see the 1860-1870 area, and generally look at the pattern of large-scale shocks at the daily or weekly level.

Traders, if you like this idea or have your own opinion about it, please write in the comments. I will be happy 👩‍💻

Commentaire:

Gold rose as I expected, what are you waiting for traders?

Commentaire:

Gold non-agricultural data rose all the way as I expected

Commentaire:

Friends give me more suggestions, let me improve myself