XAUUSD: Interest rate cut + geopolitical conflict, how to trade?

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8.1 Sharing of golden strategies and operational ideas

This week's gold market can be said to be a trading variety that global investors are paying close attention to. First of all, it is a super data week, coupled with the escalation of geopolitical conflicts again, making investment enthusiasm high. After Israel launched two consecutive political conflicts, the gold price rose by $80 in three days under the support of the dovish remarks released by Fed Chairman Powell. If the data is positive again in the next two days, it is very likely that gold prices will rise by more than 100$ this week.

Yesterday, Powell's speech increased the possibility of a rate cut in September. Coupled with the retaliatory statements of Iran, Hamas and Hezbollah, the gold price is likely to continue to rise in the short term. Therefore, our strategy center is mainly to buy at low levels.

Judging from the current trend of gold prices, it is undergoing a correction after a sharp rise. Below, we first look at the previous high near 2430, and then look at the support level of 2420. From the picture, we can see that 2420 is the low of the upward trend line. This point is also where the MSA50 moving average and the lower track of the Bollinger Bands are located.

In summary, we can intervene at these two support points today.

You can formulate detailed operation ideas by yourself or consult me
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All the data today are bullish for gold, and those who followed the buy signals of the transactions have made huge profits. Congratulations to everyone
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