September 7 Spot Gold Midday Analysis
Good afternoon everyone. The morning gold price fully confirmed the early-session forecast. Gold rose to 4435, faced pressure, and pulled back. After retreating to support around 4390 and stabilizing, it rebounded slightly to around 4415, then entered a range-bound consolidation.
The medium-term pressure brought by the nonfarm payrolls data still exists. The U.S. dollar and Treasury yields remain at elevated levels, and there has been no volume-driven breakout in the market.
Technically, the hourly chart remains in a box-range pattern, with bulls and bears still contesting within the range, and rebound momentum remains relatively weak.
The midday strategy remains to mainly sell on rebounds. If price rebounds into the upper resistance zone of 4410-4425, look to open short positions on pressure, with targets at 4395 and 4370. At the same time, retain the idea of buying on dips as a supplement. Trade quickly within the range, strictly control position size and stop-losses, and pay close attention to volume expansion during the European and U.S. sessions.
The above is for personal reference only and does not constitute investment advice. Please follow the specific strategy of Cheng Jingsheng Shipan Layout for actual execution! $XAU
#XAUUSD
Good afternoon everyone. The morning gold price fully confirmed the early-session forecast. Gold rose to 4435, faced pressure, and pulled back. After retreating to support around 4390 and stabilizing, it rebounded slightly to around 4415, then entered a range-bound consolidation.
The medium-term pressure brought by the nonfarm payrolls data still exists. The U.S. dollar and Treasury yields remain at elevated levels, and there has been no volume-driven breakout in the market.
Technically, the hourly chart remains in a box-range pattern, with bulls and bears still contesting within the range, and rebound momentum remains relatively weak.
The midday strategy remains to mainly sell on rebounds. If price rebounds into the upper resistance zone of 4410-4425, look to open short positions on pressure, with targets at 4395 and 4370. At the same time, retain the idea of buying on dips as a supplement. Trade quickly within the range, strictly control position size and stop-losses, and pay close attention to volume expansion during the European and U.S. sessions.
The above is for personal reference only and does not constitute investment advice. Please follow the specific strategy of Cheng Jingsheng Shipan Layout for actual execution! $XAU
#XAUUSD
