GPBUSD SELL

📊 BUY XAUUSD
Entry: 2301.00
Stop Loss: 2299.00
TP 1: 2304.00
TP 2: 2306.00
TP 3: 2309.00
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After the Federal Reserve's May interest rate decision, the U.S. April non-farm payrolls report will be released today. Perhaps gold, which tested $2,285 again last night, finally stopped falling and rebounded. On non-agricultural night, the market is waiting to see whether gold can bottom out here and rise again. Economists generally expect the nonfarm payrolls data to show a sharp slowdown following the March jobs report's blowout. Economists' median forecast shows that U.S. nonfarm payroll employment is expected to increase by 240,000 in April, which would be the slowest growth rate since November last year. In recent months, nonfarm payrolls figures have exceeded economists' expectations. The ADP employment data on Wednesday, which has the title of "small non-farm", showed that the pace of hiring by U.S. companies in April was still strong, indicating strong demand for employees in multiple industries. The strong ADP employment data also means that driven by the still hot labor market and the stickiness of US inflation stimulated by wage growth, the Fed's anti-inflation pressure is still very strong. Several Fed officials, including Fed Chairman Jerome Powell, have said in recent weeks that they are in no rush to push for rate cuts if U.S. economic data continues to be strong.

XAUUSD (GOLD)

Judging from the 60-minute chart, the current price of gold fluctuates in the range of 2397-2308. It is still necessary to observe the direction of price breakthrough. If the price breaks above 2308, the next high is expected to be 2316-2320. If the price falls below 2397, the next low is expected to be 2282-2287.

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Yesterday, the price of gold surged rapidly due to the impact of the U.S. unemployment rate in April and the seasonally adjusted U.S. non-farm payrolls data in April, but the price soon returned to below the downward trend line. The price still rebounded in the later period, but did not break through the downward trend line. This shows that news events only affect the trend of gold in the 15-30 minute period, and it is difficult to change the downward trend. The short-term trading strategy is still to sell at resistance levels.


At present, the focus is on the 2303-2308 range. If the price rises to this range, there is a high probability that the downward trend will continue.

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Gold maintained its upward trend on Monday, with the Bollinger Bands flat on the daily chart. Today, we continue to focus on the movement between the middle rail and the lower rail. The resistance on the upper rail is 2332-2338, and the support is 2291-2277 below. The short defensive position is currently at the 2352 line. Only by breaking through and stabilizing the 2352 line can the end of this downward trend be confirmed.

At the 4-hour level yesterday, a wave of consecutive positive gains drove the Bollinger Bands to open upward, and the short-term trend is relatively strong. The current price continues to rise and fall at the upper track, indicating that the pressure near the upper track 2332 is relatively high. Although the short-term trend is relatively strong, on the whole It is still range-bound. In terms of operation, do not chase the rise at the high level. Wait for the price to fall back. The key support is more. The upper resistance is 2332-2335 line, and the lower support is 2316-2312-2300.

The 1-hour gold price surged above 2332 in the early hours of last night and fell back under pressure. The price consolidated and closed in late trading. It formed a second surge in early trading today, with a high of 2330. The bulls lacked momentum and are expected to enter a correction and fall again in the short term. Once the support below is confirmed, it will be bullish again.

Gold strategy: It is recommended to sell near 2326-2330, stop loss 2332, target 2317-2312; buy below 2308-2314, target 2325-2328

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SIGNALS

📊 SELL XAUUSD
Entry: 2314.500
Stop Loss: 2316.500
TP 1: 2311.00
TP 2: 2309.00
TP 3: 2305.00
Let's Ride 🔥
⚠️ Apply proper risk management.