Trump’s sudden tariff remarks caused global stock markets, especially the Chinese stock market, to fall below key support, which is likely to trigger an oversold rebound after the opening, and even the commodity market will rise. Therefore, during the Asian session, the gold price is mainly bullish. However, considering the cooling of the war, the pressure on the gold price is still not small. Therefore, the European and US sessions are still mainly shorting.
The 100-day moving average is a strong short, but the current price has reached the 0.618 callback line and the 2600 mark support, and there is a possibility of rebound. Therefore, the trading strategy should be mainly shorting after the stepping back.
Trading strategy: (Trend following) Asian session follows the bullish opening of the Chinese stock market, and the European and American sessions are short at 2650-2660
Resistance reference: 2630 (breakthrough); 2650-2660
Support reference: 2610 (stop profit & breakthrough); 2580; 2540 (short-term)
XAUUSD 15-minute chart