XAUUSD| Please wait and see patiently!

✅After breaking through the previous high of 2763, the price of gold has continued to rise strongly and broke through the 2780 integer mark. At present, the upper resistance level of gold is mainly concentrated at the historical high of 2790, which is also the key to whether the price of gold can continue to rise in the short term. The following analysis should focus on the following aspects:

1. Historical highs and key resistance
The current trend shows that the bullish momentum of gold is still strong, but whether it can break through the new high is still unknown, and it is necessary to focus on the performance of the historical high.
The current resistance level is around 2790. Breaking through this level will mean that gold may enter a new round of rising phase. However, there is uncertainty in breaking through the historical high, so we need to be cautious.

2. Weekly Bollinger Band Analysis
The upper track of the weekly Bollinger Band is at 2772, which provides a relatively important technical indicator for the upward movement in the short term. If the gold price breaks through this range, it may further promote the rise, but there are also certain risks, so it is necessary to pay special attention to the breakthrough of this level.
The current Bollinger Band closing state may indicate that the price will choose a direction, but the specific trend still needs to be verified by market performance.

3. Risk of profit taking
Today is Friday, and we usually face profit-taking by some investors. With this in mind, gold may experience short-term shocks or pullbacks as it approaches the weekend, so special attention should be paid to the volatility of gold prices, especially the risk of pullbacks that may occur in the short term when it approaches historical highs.
In addition, changes in market sentiment and liquidity issues over the weekend may also lead to greater volatility in gold prices, so it is necessary to prepare for possible pullbacks.

4. Impact of the Bank of Japan's interest rate decision
Today's Bank of Japan's interest rate decision may become a catalyst for further increases in gold prices, especially if the Bank of Japan maintains an accommodative policy, which may support gold prices and push gold prices to continue to rise.
However, it is worth noting that gold is currently at a historical high, and any new upward momentum needs to be cautious and should not blindly chase highs.

✅ Intraday trading strategies
The current trend of gold is still a bull market, and long pullbacks are still the most stable operation method.
If there is a pullback in the short term, you can still consider gradually intervening near the 2748-2750 support level, but set a stop loss to prevent a sudden reversal of the market.
If the gold price continues to rise, it is recommended to remain cautious and not chase high again easily, especially before the historical high is broken, and avoid blindly chasing the top.
If the new high is not broken or the price is adjusted, you can consider adjusting the strategy, and shorting operations should be cautious and wait for clearer signals.

✅The current gold bull market has not ended, but because it is close to the historical high, investors need to pay special attention to the market's callback risks and profit-taking. In the short term, it is not advisable to chase high easily, but to look for buying opportunities when the price retreats appropriately. At the same time, the upper track of the weekly Bollinger Band and the impact of the Bank of Japan's interest rate decision also provide support for gold prices, but the feasibility of breaking through the new high is still uncertain, and it needs to be operated with caution.