XAUUSD:7/5 Today’s Market Analysis and Strategy

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The 4-hour moving average of gold began to turn upward, forming a double bottom structure, and gradually stabilized. Gold did not fall further, and it dropped to the 2315 line and stabilized and rose again. The Asian market continued to go long on dips above 2315.
Asian market analysis
1H resistance is 2331, support below is 2315
4H resistance is 2331-2345, support below is 2393
Daily resistance is 2331-2345, support below is 2393/2383

Asian market strategy:
BUY:2313~2317 SL:2309
SELL:2345~2348 SL:2355

Asian market strategy NY time is invalid
NY Time Strategy Pre-Opening Update

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✅Gold technical analysis
Daily resistance is 2326-31, support below is 2300-2293
Four-hour resistance 2320-26, support below 2312-2293

Gold operation advice: Gold has been switching between long and short very quickly recently. The daily line is temporarily suppressed by 2330-33. This position is the upward pressure we saw in the shock before. If this position is broken, it will continue to rise. Gold will break away from the range shock and open a new bull market.

Judging from the trend of the Asian market, the short-term resistance at the top is around 2326, and at the bottom it is around 2312. During the day, sell at a high price based on 2335. If the support below 2312 falls below, it will look towards 2300. For the time being, you can rely on the 2335~2312 range for trading. Wait patiently for key points to enter the market.

Technical analysis only provides trading direction!

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Continue to sell high and buy low at 2335~2312

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Today gold is operating within a narrow range of 2310~2322. Pay attention to today's low of 2310. If it falls below 2310, there will be greater room for decline, which will trigger the SL position of the bulls and accelerate the decline. Look for support in the range of 2308~2300.

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Wednesday
The gold daily line alternates between red and green, and the market has not yet entered a continuous trend. The long and short alternates frequently, and the market is in a wide range of shocks. The central axis of the daily RSI indicator is flat, and the central axis of the four-hour RSI indicator is flat. The Bollinger Bands closed at the upper track of 2330 and the lower track of 2290. The Asian market price is running near the middle track of 2310. The moving average crosses but there is no heavy volume. Today's trading idea is to sell high and buy low.

Upper support level: 2304/2292/2280
Lower resistance level: 2326/2338/2346

BUY:2288-2290 SL:2279
SELL:2325-2328 SL:2336

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