【Gold XAUUSD】12.16 Latest Strategy Analysis
The evening non-farm and retail sales data has not been released yet, and funds are on the sidelines, limiting the volatility of gold prices during the European session. After the Federal Reserve's third interest rate cut, the expectation for rate cuts in 2026 remains unchanged, and the dollar has fallen to 98.29, which supports gold in the medium to long term. However, there are internal disagreements within the Federal Reserve regarding the pace of rate cuts, coupled with global central banks still buying gold, and silver hitting historic highs, which stabilizes the support for gold, making a significant drop unlikely.
During the day, the Asian session fluctuated around 4288-4300, with resistance at 4320-4330, which was the breakout point from last Friday. If the European session cannot break through, the fluctuation will continue. The resistance at 4320-4330 is evident, while support at 4285 is strong. Before the non-farm data, the market is unlikely to show a clear directional breakout. If there are sudden new developments regarding the Russia-Ukraine situation or unusual movements in the dollar index, there may be a brief breakout, but the overall fluctuation pattern is hard to change.
Gold may be seen around 4275-4265 to the north.
The target is to see around 4285-4295, with a breakthrough expected at 4315, 4320.
The content is practical; friends who are unsure should pay close attention and are welcome to consult at any time 🤝
