With two waves of plunges, gold has shown a top reversal pattern, but has not yet fallen below the key neckline of 2715. It is currently stabilizing at the previous low of 2733. The trading strategy should adopt a breakthrough follow-up and enter the market in batches.
Although generally speaking, the decline of the US dollar 
is beneficial to gold, from the recent “Trump deal” market rules, gold 
and the US dollar are easy to rise together. Then conversely, when the “Trump deal” cools down, gold should fall with the US dollar . In addition, European 
Treasury bond rates have bottomed out and rebounded, and US Treasury bond rates have maintained an upward trend after the plunge and surge of non-agricultural data. On the whole, the negative impact on the gold price is greater than before. The trading direction is mainly bearish.
Trading strategy: (Trend following) intraday breakout of 2733 and short, short-term breakout of 2715 and short
Resistance reference: 2745; 2760 (breakout reverse bullish)
Support reference: 2733 (breakout); 2715 (breakout); 2700
XAUUSD 1-hour chart
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