Edward Moya, senior market analyst at OANDA, told MarketWatch: "Spiking U.S. Treasury yields and a stronger U.S. dollar are gold's 'nemeses.' Looking at the chart, gold remains clearly oversold in the face of rising interest rates and rising U.S. Treasury yields. Hitting new highs, traders are more inclined to short gold.Gold is in the "danger zone" and if the 10-year U.S. Treasury yield rises back above 5%, gold will fall below the $1,800 level.
Today's trading recommendation is to short gold, but be cautious as gold may rebound slightly between 1810 and 1802.
XAUUSD
Sell--1822
1TP---1814
2TP---1810
Today's trading recommendation is to short gold, but be cautious as gold may rebound slightly between 1810 and 1802.
XAUUSD
Sell--1822
1TP---1814
2TP---1810
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Gold will currently hover around 1823 for a short time and then fall. Give the market some time and let us continue to wait.
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Continuous follow-up.
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Gold rebounded slightly to 1827 in the short term, give the market some time and continue to wait.
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Before the market has an obvious reversal pattern, you must not guess the top.
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