Veteran123
Freshie
- Messages
- 31
- Joined
- May 13, 2024
- Messages
- 31
- Reaction score
- 1
- Points
- 11
If the labor market continues to cool, it could bolster the Fed's confidence in cutting rates. Analysts believe that if the employment report continues to disappoint, a rate cut in September or even July could become possible, which would be bullish for gold prices.
Gold prices have recently regained an upward trend. If the data falls short of expectations and previous values, it could accelerate the rise in gold prices. It is recommended to promptly follow up with long positions after the data release. If the data exceeds expectations and previous values, it could have a short-term bearish impact on gold prices, leading to a pullback. However, considering the upward trend, it is advisable to establish long positions after stabilization.
Trading Strategy:
1. Open long positions at $2358.0 , add at $2353.0, stop loss at $2348.0. Rebound targets: $2368.0—$2372.0, break above $2381.0—$2396.0.
2. Follow up with long positions upon breaking $2363.0, stop loss at $2358.0. Upward targets: $2368.0—$2372.0, break above $2381.0—$2396.0.
Gold prices have recently regained an upward trend. If the data falls short of expectations and previous values, it could accelerate the rise in gold prices. It is recommended to promptly follow up with long positions after the data release. If the data exceeds expectations and previous values, it could have a short-term bearish impact on gold prices, leading to a pullback. However, considering the upward trend, it is advisable to establish long positions after stabilization.
Trading Strategy:
1. Open long positions at $2358.0 , add at $2353.0, stop loss at $2348.0. Rebound targets: $2368.0—$2372.0, break above $2381.0—$2396.0.
2. Follow up with long positions upon breaking $2363.0, stop loss at $2358.0. Upward targets: $2368.0—$2372.0, break above $2381.0—$2396.0.
