8.27 FPG gold trend analysis

XAUUSD H4

Yesterday at noon, explosions occurred in many parts of Ukraine, triggering air raid sirens across the country. The rising risk aversion led to gold breaking through 2520 for the most part in 4 hours, reaching a high of 2527. As the short-term risk aversion decreased and the US dollar index rebounded from its low point of the year, gold failed to sustain its upward trend, eventually closing below 2520. The two main factors currently affecting gold are the expected US dollar interest rate cut and geopolitical risk aversion factors. Geopolitical uncertainty is relatively greater than US dollar interest rate cuts, with only 22 days left until the next Federal Reserve interest rate decision countdown. As time approaches and various data is released, the market will become clearer. This week, focus will be on the release of the U.S. GDP revised data and PCE inflation data on Thursday and Friday, as the market will seek more rate cut clues based on the data results.

Technically, the rise in risk aversion yesterday pushed the price above 2520, but the price failed to break through the previous high, and the closing price remained below 2520. Short-term bullish momentum is not as strong, and the current gold price remains within the previously mentioned uptrend channel. However, it is currently moving in the lower half of the channel, with yesterday's high also suppressed by the channel's midline. If prices fail to refresh yesterday's high in the future, a short-term double top formation may begin to decline. Enter cautiously, control positions, and pay attention to stop losses.

Upper resistance at 2520, second resistance at 2525, third resistance at 2530.

Lower support at 2510, second support at 2500, third support at 2495.

# This recommendation is general in nature and does not take into account your specific financial situation and needs. Investment involves risks, so please evaluate carefully. #