XAUUSD:Analysis of the follow-up gold trend in terms of news

Analysis of the follow-up gold trend in terms of news

A number of Fed officials will speak at a later date. Since the Fed is still in suspense at the policy meeting in early May, the focus is on whether Powell will release a clearer stance. If Powell's speech shows a hawkish stance, the dollar is expected to strengthen further, which will hit gold prices again. At present, many Fed officials continue to adhere to the hawkish tone. Atlanta Fed President Bostic said that it is not his basic expectation to cut interest rates this year. It is expected that the Fed will raise interest rates more likely but tends to pause.

Through the analysis of the golden hour chart, we know that the market has been rebounding since the early trading and is still cautiously rebounding. From the attached picture above, we can clearly see that the short-term 8-hour main bulls are in a state of slightly increasing their positions and slightly Predominant but still operating under the pressure level of 1970. In the short term, it is still a small rebound stage and cannot be reversed. Unless the 1980 line is firmly established again, it will further form a shocking upward rhythm.

The gold current price list we gave earlier has helped everyone reap good profits. At present, it seems that short-term trading is the mainstream! Profit is what is in the wallet, otherwise it is just a bunch of numbers.