XAUUSD: Gold tries to bounce back

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Due to the lack of more benefits, gold has not yet stepped out of the recent low volatility range. However, gold's short-term technical situation may be brewing a wave of upside breakouts!

Gold maintained a narrow range in the 1970~1980 range. The 10-year U.S. Treasury yield ended its daily rally, the dollar index was blocked from rising, and gold continued to rebound after holding the 1950 level again. However, due to the lack of more positive support, gold has not been able to break above the 1980 level for the time being.

Short-term traders can choose to go short in 1980 and long in 1970

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sell@1980-1985 tp 1975

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sell again

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TP 1973

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Watch out for Fed meetings

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1958

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