I. Current Trend Judgment

1. Gold prices are still in a downward channel, with the overall direction biased downward, and the downtrend has not changed.

2. Key support level: 3940. If this level is broken, gold prices will accelerate downward, targeting the 3900-3850 range.

3. Key resistance level: 4065. This is the recent high and a watershed determining whether the downtrend ends. Before an effective breakout, any rebound is considered an opportunity to short.

II. Trading Strategy

- Entry: Short near the key resistance level (e.g., around 4065), do not chase shorts.

- Exit: Take profit based on the support level (e.g., around 3940).

III. Evening Influencing Factors

1. June ADP data: Previous value 12.2, expected 11.8, slightly lower than the previous value, theoretically bullish for gold, but actual impact is limited. If gold prices do not break 4065 after the data release, the trend remains bearish.

2. Federal Reserve Chair's speech: Attention should be paid to related statements on monetary policy. If hawkish signals are released, it will be bearish for gold; if dovish, it may trigger a rebound, but the focus remains on the breakout of 4065.

IV. Summary

Overall, the current downtrend for gold has not changed. Operation strategy is primarily shorting at highs, focusing on the breakout of the 4065 resistance and 3940 support levels, while also paying attention to short-term volatility from evening data and speeches.

Risk Warning: The above content is only personal views from the video and does not constitute any investment advice. The market carries risks, and trading requires caution. $XAUUSD