XAUUSD: 1/5 Today’s Market Analysis and Strategy

The price of gold fell nearly $50 on Tuesday, reaching a new low of 2285, as the Federal Reserve decision will be ushered in on Wednesday, and the market expects that the wording may be hawkish. The dollar and U.S. Treasury yields rose, which significantly suppressed the price of gold; despite strong safe-haven demand and central bank buying Gold prices continued to rise for the third consecutive month.

In addition, the U.S. benchmark 10-year Treasury bond yield also rose, weakening the investment appeal of international gold. As U.S. data showed rising employment costs, indicating continued inflationary pressures, gold prices fell sharply below the 2,300 mark. The Fed needs to be patient when cutting interest rates, as Fed Chairman Jerome Powell said two weeks ago. A stronger U.S. dollar and rising U.S. Treasury yields caused gold prices to fall as markets expected the Federal Reserve to cautiously adjust interest rates.

In addition to the Fed's interest rate decision and Fed Chairman Powell's speech, this trading day will also release US ADP employment data for April and US ISM manufacturing PMI data for April, which investors need to pay close attention to.
Technically, gold is operating with a bearish structure, and the day-to-day rebound is dominated by high-altitude layout participation.

Asian market analysis
1H resistance is 2296, support below is 2278
4H resistance is 2305, support below is 2266
Daily resistance is 2313, support below is 2253

✅Asian market strategy:
BUY:2273~2275 SL:2265
SELL:2298~2300 SL:2310

Asian market strategy NY time is invalid

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Because there is too much news today, we have stopped trading. Waiting for the Fed decision and Powell's speech. Usually the market at this time is manipulated. I don’t think you should participate in transactions during NY time, what do you think?

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XAUUSD
SELL: 2324 near
SL:2331
TP1:2321 TP2: 2318 TP3:2314
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Congratulations to the friends who followed for making their first scalping profit today.

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SELL2324 Full profit +90pips waiting for next signal

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Today we start selling from 2324 and sell again after falling below the 2311 support. Only by following the trend can we make a profit.

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Shorts make huge profits

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Trade closed: target reached

Trade closed: stop reached