Update $XAU day 2/7:
Gold prices in the previous session saw a fairly positive upward move, approaching the 4100 zone. However, after remarks from the Fed, profit-taking pressure emerged along with the USD’s rebound, causing GOLD to reverse and fall again. This suggests the market is still in a period of consolidation as investors continue to assess the impact of macroeconomic information.
From a technical perspective, the current trend has not changed much, as GOLD is still trading within the accumulation range of 3900–4100. Although correction pressure remains, this area is still considered an important support zone and has the potential to form a short-term bottom if buying strength is maintained.
I’ll update the detailed plan in the group—wishing everyone success!!!
$XAU
Gold prices in the previous session saw a fairly positive upward move, approaching the 4100 zone. However, after remarks from the Fed, profit-taking pressure emerged along with the USD’s rebound, causing GOLD to reverse and fall again. This suggests the market is still in a period of consolidation as investors continue to assess the impact of macroeconomic information.
From a technical perspective, the current trend has not changed much, as GOLD is still trading within the accumulation range of 3900–4100. Although correction pressure remains, this area is still considered an important support zone and has the potential to form a short-term bottom if buying strength is maintained.
I’ll update the detailed plan in the group—wishing everyone success!!!
$XAU