XAUUSD-Non-Farm Data Trading Strategy

🔸Recently, I have been reminding everyone to pay attention to the operation within the range in gold trading and avoid one-way chasing orders. Yesterday, gold fell after being under pressure near 2655, and continued to fall in the morning today. At present, the short-term short energy has basically been released, and the bottom of gold is close to the key support level of 2605. At the same time, the U.S. dollar began to fluctuate and fell, with both gold and the U.S. dollar at recent lows. However, whether there will be a reversal remains to be further observed. Before the release of non-agricultural data, gold may still maintain a volatile pattern.

🔸From the daily level, the gold price is still in the volatile range of the past two weeks, and continue to pay attention to the breakthrough of the 2605-2666 area. After the sharp drop in gold prices last Monday, the middle track of the Bollinger Bands continued to suppress the gold price. Before breaking through the middle track of the Bollinger Bands at 2647.74, the gold price tends to fluctuate downward in the future. If the resistance of the middle track of the Bollinger Bands is unexpectedly broken, it is expected to help the gold price open a new upward channel.

🔸In the short term, although the current one-hour chart shows a short signal, we also need to combine shorter-term charts (such as five-minute charts) to more accurately determine the timing of entry. If the current short trend continues, we can make short-term short orders at the right time. It should be noted that when there is no suitable entry opportunity, be patient and wait for the market to confirm the direction.

🔸Non-agricultural data will be released today. Considering that the current gold market is in a range of fluctuations, non-agricultural data is likely to cause sharp fluctuations in gold prices and break through the current range of fluctuations. Therefore, investors need to pay close attention to the release of non-agricultural data and do a good job of position management and risk control. According to market reactions, non-agricultural data may provide upward momentum for gold, especially after the release of the data, it may usher in a short-term strong rebound.