CFDs on Gold (US$ / OZ)
Short
Updated

XAUUSD: 8/5 Today’s Market Analysis and Strategy

335
Gold technical analysis
4-hour chart resistance level 3410, support level 3310
1-hour chart resistance level 3380, support level 3310
30-minute chart resistance level 3350, support level 3320.

Trump said that he would hold a "large press conference" at 10 a.m. Eastern Time tomorrow, and may sign a trade agreement with the UK. Therefore, the news affected the gold price.

Russia implemented a ceasefire from 0:00 on May 8 to 0:00 on May 11 local time. The temporary ceasefire between Russia and Ukraine and the repeated situation in the Middle East may support the gold price in stages due to the risk aversion demand.

Recently, affected by the news, the daily operation range of gold is very large. Today, we will first look at the 3320-3360 range of fluctuations in the short term. If it breaks through, follow the trend and strictly stop loss!

Buy: 3323 SL: 3318

Sell: 3355 SL: 3360

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