XAUUSD| Under pressure and range-bound

✅Yesterday, the gold daily line closed with a long negative line with a lower shadow longer than the upper shadow, forming a reversal pattern. The closing price of 2740 effectively fell below the previous day's positive line entity, indicating that the bearish force is dominant. After testing the double top pressure of 2772, the gold price continued to fall back, confirming that the current upward trend line (current support at 2730) is facing the risk of breaking, and the MACD indicator shows signs of top divergence.

✅From the hourly chart, MA5/MA10 forms a short arrangement, the current price runs near the lower track of the Bollinger band (2745), and the RSI indicator continues to be in the weak area below 40. After the wave structure completes the five-wave rise, it enters the ABC adjustment wave. It is currently in the C wave extension stage. If it effectively falls below 2730, it will open up downward space. The decline process is accompanied by an increase in trading volume, and the rebound and shrinkage show that bulls have insufficient momentum.

✅Key positions:
- Upper resistance: 2747 (previous low conversion resistance)
- Medium-term watershed: 2750 (5-day moving average suppression)
- Lower support: 2730 (trend line support), 2715 (Fibonacci 61.8% retracement level)

✅Trading strategy recommendations
🔰 Short strategy:
- Entry area: 2745-2750 (combined with TD sequence exhaustion signal)
- Stop loss setting: 2755 (stop loss after breaking through the previous high)
- Target range: 2715-2700 (previous low and integer level support)
🔰 Long strategy:
- Short orders will be exited if 2755 is effectively broken
- Tactical long orders can be arranged in the 2690-2700 area (stop loss 2680)
- Radical investors can also place long orders with a light position around 2715-2717

✅Risk warning
1. Focus on the impact of US economic data during the US trading session
2. Pay attention to the long and short battles at the key support level of 2730
3. Be alert to the rebound of risk aversion caused by unexpected events

✅Gold's short-term technicals show a bearish advantage. It is recommended to adopt a rebound short-selling strategy as the main strategy, focusing on the performance of the 2747-2750 pressure area during the European and American trading sessions. If it breaks below 2730, short orders can be added, and risk management should be strictly implemented.