Technical analysis by AndyHopkins about Symbol PAXG: Buy recommendation (16 hour ago)

Gold Prices Plummet on Strong NFP Data: Analysis and Rebound SignalsGold prices have plunged rapidly like a slide, reversing their earlier strong momentum. Just days ago, gold had risen to a relatively high level, with many in the market bullish on its continued upward trend. However, yesterday’s U.S. Nonfarm Payroll (NFP) data far exceeded expectations. While the market had anticipated modest employment growth, the data showed a significant increase in job additions and a sharp drop in the unemployment rate, signaling that the U.S. economy is more robust than previously thought.Market Reaction and Fed Policy ImplicationsThe strong economic data immediately triggered a major market reaction. Improved economic performance has raised expectations that the Federal Reserve may hike rates sooner or delay rate cuts. As is well-known, Fed policy exerts significant influence on gold prices. Higher interest rates strengthen the U.S. dollar, and since gold yields no interest, investors tend to favor dollar-denominated assets or bank deposits over gold, reducing demand and pushing prices lower.Potential for Rebound: Technical Signals to WatchDespite current bearish dominance, a price rebound cannot be entirely ruled out. If prices quickly fall to the $3,290-$3,295 range and form K-line patterns with long lower shadows accompanied by a noticeable increase in trading volume compared to the downward trend, this could signal that bulls are attempting to counterattack. Traders should closely monitor subsequent price action: if prices stabilize above this range and form clear bottoming signals (e.g., bullish engulfing patterns), it may be appropriate to consider entering long positions.Gold analysis and strategy for next week, hope it helps youXAUUSD BUY@3290~3295SL:3280TP:3310~3320