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Gold: 1856 Support to look at the bullish

Fundamental analysis:

On Friday (March 10), the US Department of Labor's Statistics announced data showing that the United States added 311,000 non -agricultural employment in February, lower than the previous value of 504,000. , But the rise in unemployment rate and the slowdown in wage growth has caused the market's expectations of the Fed's March meeting of 50 basis points. At the same time, the market's pricing of Federal Reserve's terminal interest rate has dropped significantly. Raise the warmth. The yields and US debt yields of the United States and US debt have been closed down, and the spot gold has soared over 40 US dollars within the day. This Tuesday (March 14) will be announced in February CPI reports. The decline may promote the further lower rate of US dollars and US debt yields, thereby boosting gold prices.

Spot gold xauusd 4 -hour chart

Technical analysis:

Looking at the 4 -hour chart, the price of gold has risen to above 1860, and the long head accelerates. At the same time, MACD is rapidly capacity on top of the zero axis. The bulls are expected to continue the strong in the short term. Target 1880-1900.

Resistance level: 1880.00 1900.00

Support bit: 1856.00 1840.00

Trading strategy: Bullies above 1856.00, target 1880.00, 1900.00
Extracting strategy: Watch the decline under 1856.00, target 1840.00, 1820.00

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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