Gold continues to move within the bearish erosion range but it should be noted that the $3,364 level has not been broken yet
The Short strategy following the current short-term price trend will still be prioritized to be activated when the price officially breaks out of $3,364 but the rate of this happening today will be low because the general market bias will move cautiously until entering the US session and the USD is falling.
Buy strategies also need a corresponding price confirmation, showing that the Buyers have officially entered the game. However, the upside momentum of Gold today will be easily limited around the round price level of $3,400 or further at $3,413
You can refer to the Buy strategy according to the following scenario
1. The price quickly drops back to the old bottom at $3,347 but then quickly increases back above $3,360. Then, the Buy point on the retracement is around $3,358-$3,360 range with 9 price STP and price target towards $3,388 - $3,398 and $3,412 – With this scenario, the price confirmation is expected to take place during the Asian session and the position will be triggered from mid-Asian session to early European session
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