Introduction
In the previous week’s forecast, the value of gold emoji continued its bearish trend, breaking below the $3200 support level and rising towards the $3250-3300 range. Investors were largely shifting their focus from stable currencies like the USD to risk-based assets such as/viewright or cryptocurrencies like Bitcoin, as speculation on geopolitical tensions, particularly U.S. tariffs, increased. This shift indicates heightened risk aversion and a growing focus on uncertainty.
Key Economic Events of This Week
This week saw the release of three significant U.S. economic reports, all of which may have a direct impact on the stability of gold prices.
Monday, May 5: Initial View of Services Sector PMI
The Consensus Session of the Institute for Supply Management (ISM) on May 5 reported a revised index, signaling a weaker service sector economy. An unfavorable PMI can lead to viewers selling gold as investor confidence shifts from stable assets to riskier ones. This potential sell-off could push gold out of its $3200-3300 range.
Wednesday, May 7: Federal Open Market Committee (FOMC) Press Conference
The FOMC press conference on May 7, as highlighted by multiple news articles, offered a platform for traders to discuss the Fed’s monetary policy stance and its implications for the dollar and other major currencies. A more accommodative outlook by the Fed could lead to stronger USD, which, when combined with the forward-to-neutral silver-to-USD quote, could result in bearish pressures for gold.
Thursday, May 8: Unemployment Claims Release
The Fridayth economic update revealed a slight uptick in the number of people applying for unemployment benefits. Potential shifts in labor market trends could influence the risk appetite of investors, with faster job market tightening potentially reducing fears of economic collapse and accelerating investor confidence in the dollar.
Buying and Selling Levels in Gold
Weekly Forecast Analysis
The week-long gold price reading provided compelling insights into potential buying and selling levels.
Monday May 5
Goldasma has shown signs of strength, with the weekly FVG dropping below $3300. This indicates a bearish bounce, potentially triggering a sell-off.黄金 price action commonly follows the $3305-3313 area, where a short trade can be triggered.
Wednesday May 7
The FOMC press conference is a key event on watch名单. If the Fed releases comments on a rate hike or announced actions against excessive ECB borrowing, investors may蜂 into gold as an alternative safe haven asset.
Thursday May 8
U rb民 optimism in the labor market is a factor. A slowdown in the U.S. labor market could weaken investor confidence in stable currencies and push gold higher. However, if concern intensifies, silver may kick in as a bid to hedge exposure to currency volatility.
Buying and Selling Levels in Detail
Buying Levels
insights into the week’s price action reveal potential buying levels in the $3259-3239 area, where 4-hour间的 Buy Price block is present. These levels are critical for traders seeking to buy gold in multi-day frames.
Selling Levels
The displayed 4-hour area of sell pressure is located at $3275-3295, where potentialsell orders can be triggered in the 1hr timeframe or part of the POC zone (MHook). Traders should remain vigilant in these areas, as they can trigger price corrections.
Trading Strategies & Investment Recommendation
To capitalize on this week’s price dynamics, traders should adopt a risk-safe strategy. Buying opportunities exist in the lower-timeframe levels, such as the $3221-3235 area, while支撑aked levels include the $3305-3313 zone, where short trading can trigger.
This strategy, based on the identified buying and selling ranges, offers a balanced approach to managing risk, as it leverages both upward and downward channel opportunities without overexposure to any single time frame. The focus should remain on mid- to longer-term horizons to guard against volatility.
Support Levels
The $3194-3168 weekly FVG emerges as a strong support level, where multi-day traders should consider entering short positions to capitalize. This area is particularly attractive if the price breaks below these levels, as stronger auction thresholds could indicate a potential upward movement.
Resistance Levels
The $3305-3313 1hr OB (Offer Buy Price) and POC (Price Open Close) areas serve as key resistance levels. Traders should monitor for these as breaking points, as they may signal a significant shift in price momentum.
Conclusion
In conclusion, the week’s economic events and price movements suggest ongoing instability in the dollar due to Federal policy concerns and volatile淘金市场活动. Investors should remain cautious and avoid over-leveraging positions, particularly in vulnerable currencies like the USD. Meanwhile, Traders should focus on the lower-overt Entries at $3221-3235 to profit from resistance at $3305-3313. The risky stance of gold should capitalize on buying opportunities at lower times, while Pennsylvania properties to risk guards in the upper platforms, such as the $3342-3353 range.
