The US dollar weakened significantly and broke through the key support, but gold did not effectively set a new high. The trend has slowed down, but if the current trading of gold
is against the trend, then it needs to be combined with reasonable risk management, otherwise it should be responded to by breaking through and chasing long. If the momentum weakens and fails to break through the previous high, it may be blocked and fall back to the support area below for consolidation.
Trading strategy: short on highs, and consider following longs if the previous high is broken.
Resistance reference: 2510
Support reference: 2484, 2454
XAUUSD 1-hour chart
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