Zong Xiaoli: Non-farm payrolls are officially coming, but unfortunately the market is quite chaotic. How should we respond tonight?

First, let’s talk about gold. Yesterday’s price action clearly conveyed a signal: gold is currently not truly in a bull market state. As long as the relevant stimulus factors appear, it will cause gold to undergo a significant correction. This is completely different from last year’s streak of continuous upward moves. It can also indirectly confirm that gold is no longer in a bull market. So everyone should be extra careful. Although, in April overall, it looks like a sideways-to-up trend, you must wait until the pullback is in place before entering to go long—and you can’t be greedy. If you’ve hit a suitable position, you should take profit and run. “Locking in gains” is the fundamental principle. Remember this~

Next, let’s talk about the U.S. Dollar Index. Yesterday’s performance was nothing short of impressive— it surged upward right away. This perfectly matches the move that Xiao Li had emphasized earlier, and it also shows that the U.S. Dollar Index still isn’t willing to fall. It still needs to find opportunities to push higher. Although overhead resistance is huge, the intent behind the U.S. Dollar Index strengthening is getting stronger and stronger. Therefore, there is still room for upside in the Dollar Index going forward. However, the path will be fairly bumpy—there may be a pattern of “three steps back and two steps forward.” Everyone needs to be more patient. As for trading, today you can consider going long at lower levels when there’s an opportunity, which may bring some chances for profit~

Tonight, the Non-Farm Payrolls (NFP) data is coming. The market is definitely going to be volatile, but no matter what the data turns out to be, the end result should still provide support for the U.S. Dollar Index—only then would it be considered normal. But if the Dollar Index directly falls, that would mean the dollar pressure is too heavy and can’t effectively prop up the market. In that case, we need to observe more. Once the pullback momentum has finished, then we can look for an opportunity to go long at lower levels. For reference~

PS: Qingming Festival holiday—FX commentary will be suspended for one day. It resumes on April 7. This is to inform you!