Gold: 1695

Fundamental analysis:

On Tuesday (November 8th), when the US midterm elections and the October CPI data were welcomed, the US dollar index continued to fall and lost 110, and US Treasury yields fell from a high level. The 10 -year US debt yield fell from 4.24%to 4.12%. Spot gold has greatly increased and exceeded the 1710 mark, which once increased by more than $ 52 compared with the daily lows, and rose to four intersectors of $ 1680 to 1710, and finally closed up 2.22%. According to the latest polls, the Democratic votes headed by Biden are not optimistic, and it may force the Fed to be soft to offset damage to the economy. The market is softened in the Fed's expectations of interest rate hikes.

Spot gold xauusd 4 -hour chart

Technical analysis:

Looking at the 4 -hour chart, after the price of gold fell 1666, it broke the horizontal range of 1680 in one fell swoop. At the same time, MACD continued to have a strong capacity on top of the zero axis. At the same time, the short support has been moved to 1695, and the support continues to be bullish at this support within the day, with target 1720-1735.

Resistance level: 1720.00 1735.00

Support bit: 1695.00 1680.00

Trading strategy: Bullies above 1695.00, target 1720.00 1735.00

Extracting strategy: Watch the decline under 1695.00, target 1680.00 1660.00