9.5 FPG gold trend analysis

XAUUSD H4

Yesterday, the United States announced job vacancies in July, with an expected 8.1 million job vacancies, but the actual announcement was only 7.673 million. The short-term decline in the US dollar index pushed up gold. Early in the morning, the Fed's beige book was released, which showed overall stability in employment levels and a slight decrease in consumer spending. It is generally expected that economic activity will remain stable or improve, and price pressures will stabilize or ease further in the coming months. However, according to data provided by CME, the market's expectation of a 50 basis point rate cut in the Fed's rate decision on September 18th has reached 44%. The market still has some concerns about the economic recession in the United States. The market is being pulled in both directions, awaiting the release of non-farm payrolls data tonight and tomorrow night, which will have a significant impact on gold in the short term.

Technically, gold attempted to break below the support level of 2470 yesterday, but the price was pulled back. With the decline in the USD index, the gold price rose to test the 2500 level. However, it closed below 2500. In the short term, the high and low points have moved lower compared to the previous trading day, and both long and short positions remain cautious. The analysis remains unchanged today, waiting for the release of non-farm payroll data, controlling positions well, and setting strict stop losses.

The upper first-line resistance is 2495, the second-line resistance is 2500, the third-line resistance is 2508.

The lower first-line support is 2490, the second-line support is 2485, the third-line support is 2475.

# 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. #