Gold: 1703

Fundamental analysis:

On Tuesday (October 4), the market continued the trend the day before. With the Fed's radical rate hike, the market began to suppress the Fed's next year's interest rate cuts, and at the same time superimposed concerns about the decline in the US economy. Rumors about Credit Suisse Credit Credit They all increase the possibility of the Federal Reserve in the turmoil. The US dollar index continued to undergo pressure, and the spot gold further expanded the increase, which was approaching the 1730 mark, and finally closed up 1.48%.

Spot gold xauusd 4 -hour chart

Technical analysis:

Looking at the 4 -hour chart, the price of gold continues to rise above the support of 1675, and even breaks the key resistance level. MACD continues to volume above the zero axis, showing that the bulls trend is still strong. At present, the support has been moved to near 1703. Continue to look at the bullish, the above target 1730-1750.

Resistance level: 1730.00 1750.00

Support bit: 1703.00 1675.00

Trading strategy: Bullies above 1703.00, target 1730.00 1750.00

     

Extracting strategy: Watch the decline under 1703.00, target 1675.00 1660.00