XAUUSD: Will it Break Through $3000?
Data Analysis
The weekly US employment data released at 21:00 on February 20th became an important turning point for the gold price trend. Employment data can often reflect the health of the US economy. If the data is poor, it may trigger market concerns about the economic outlook, thereby increasing the safe - haven demand for gold. Conversely, better data may weaken the safe - haven appeal of gold. After the release of this data, the gold price dropped rapidly, indicating that the market reacted significantly to the data.
Market Sentiment Analysis
Recently, the rising uncertainty in the global economy and geopolitical situation has led to an increase in risk - aversion sentiment, which has always been an important factor supporting the rise in the gold price. However, after the price has continued to rise and hit new highs repeatedly, some investors have started to worry about the risk of a pullback and chose to take profits. This has caused the gold price to decline to a certain extent today. But currently, the upward trend of gold has not ended. After experiencing fluctuations, it's only a matter of time before gold breaks through $3000.
Support and Resistance Analysis
Currently, pay attention to the resistance level of gold @2960.
Pay attention to the support level at @2880.
Trading Strategy
In the short term, it is expected that gold will decline in a volatile manner. There are more opportunities to make a profit by short - selling after the price rises.
Today's trading strategy: xauusd sell@2950 - 2960
TP: 2930 - 2920 - 2900
The most professional and accurate market analysis will be released every day, hoping to help every trader make a profit!
The weekly US employment data released at 21:00 on February 20th became an important turning point for the gold price trend. Employment data can often reflect the health of the US economy. If the data is poor, it may trigger market concerns about the economic outlook, thereby increasing the safe - haven demand for gold. Conversely, better data may weaken the safe - haven appeal of gold. After the release of this data, the gold price dropped rapidly, indicating that the market reacted significantly to the data.
Market Sentiment Analysis
Recently, the rising uncertainty in the global economy and geopolitical situation has led to an increase in risk - aversion sentiment, which has always been an important factor supporting the rise in the gold price. However, after the price has continued to rise and hit new highs repeatedly, some investors have started to worry about the risk of a pullback and chose to take profits. This has caused the gold price to decline to a certain extent today. But currently, the upward trend of gold has not ended. After experiencing fluctuations, it's only a matter of time before gold breaks through $3000.
Support and Resistance Analysis
Currently, pay attention to the resistance level of gold @2960.
Pay attention to the support level at @2880.
Trading Strategy
In the short term, it is expected that gold will decline in a volatile manner. There are more opportunities to make a profit by short - selling after the price rises.
Today's trading strategy: xauusd sell@2950 - 2960
TP: 2930 - 2920 - 2900
The most professional and accurate market analysis will be released every day, hoping to help every trader make a profit!
15 years of trading experience and skills are all shared. Enter the Telegram channel to get accurate trading signals t.me/LukeBaileyStrategy
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
15 years of trading experience and skills are all shared. Enter the Telegram channel to get accurate trading signals t.me/LukeBaileyStrategy
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.