July 17 Fundraising Lady - Yellow Fish Early News

The data-driven momentum continues the downward trend, with the head trend fully opening
1. From a review of the order book, due to a favorable impact from late-night U.S. economic data on the dollar, gold has continued to weaken, dipping to the low of 3969. The current price is 3976. On the hourly chart, price has been continuously trading near the lower Bollinger Band around 3963, bearing below the Bollinger middle band at 4010. In the short term, resistance lies at 4010 and 4057 above; support near term lies at 3963 below. The overall downtrend channel is intact, and the rebound repair strength is weak.
2. From the news side, all of the U.S. retail, initial jobless claims, and manufacturing data last night came in better than expected. The market has significantly pushed back rate-cut expectations, with the dollar remaining strongly supported. Gold bulls’ buying continues to exit, and there is no positive news to reverse the current head structure.
Strategy:
On rallies, scale in sells in the 4000-4015 range, targeting 3960 and 3940.
Note: This is for reference only and does not constitute any investment advice. $XAUT