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Gold: Power move down 1645

2022-11-01
743
Fundamental analysis:

On Monday (October 31), a famous reporter Nick Timiraos, known as the "New Federal Reserve News Agency", said on Monday that high interest rates will last longer, causing the Federal Reserve Eagle interest rate hike expectations. The 10 -year US debt yield rose to 10 basis points to 4.11%, the spot gold fell three consecutive consecutive, fell 1640 US dollars, and closed down 0.6%.

Spot gold xauusd 1 hour map


Technical analysis:

Looking at the 1 -hour picture, the price of gold continues to increase the return after falling below 1640. The market once fell to the nearly 1630. At present, the decline has expanded. Continuous measurement indicates that the market is facing further risk of callback. It continues to decide under 1645 within the day, and the target below is 1630-1615.

Resistance level: 1645.00 1655.00

Support bit: 1630.00 1615.00

Trading strategy: Bullies above 1645.00, target 1655.00 1670.00
Qualification Strategy: Watch under 1645.00, target 1630.00 1615.00

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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