XAUUSD: Pre-Christmas Trading Strategy

✅Yesterday, gold weakened and fell again after being under pressure at 2632, and the lowest overnight hit 2608, with a large drop, indicating a weak short-term trend. At the same time, the 2632 position formed an effective suppression, and the failure to break through indicated that the resistance at this position was strong. In the short term, there is a lack of effective positive support, and gold is still facing adjustment pressure.

✅If the gold price continues to be under pressure at 2632 and does not break through, this position will become an important suppression point, and the market may weaken further. Pay attention to the performance of the 2600-2598 range support. Pay attention to the performance of the 2600 area in the Asian and European sessions. If it falls below, it can continue to fall. The US session is expected to fluctuate and repair. However, if the gold price breaks through 2632 again and stabilizes, it means that the adjustment since 2720 has ended, and the gold price will return to the high-level fluctuation range.

🔰Pay attention to the 2620-2625 resistance line on the upper side in the short term. If it is under pressure in this range, consider shorting.
🔰The short-term focus below is on the 2600-2598 support. If it falls below the support, it may drop further.

✅As this week is the Christmas holiday, the market trading is relatively light. It should be reminded that the bond market, gold market and most European and American markets will be closed early on Tuesday and will be closed on Wednesday due to the Christmas holiday. Therefore, pay attention to the weak adjustment in the short term, remain cautious in operation, and flexibly respond to changes in key resistance and support ranges.