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Gold: 1900 is a long and empty watershed

2023-01-19
739
Fundamental analysis:

On Wednesday (January 18), because the US data or the Federal Reserve policy would not be too eagle, the US dollar index fell to 0.8%to 101.52, and then rebounded above 102. Falling below 3.40%, the lowest since September last year. The yield on the US 2 -year Treasury bonds fell to 4.085%, the lowest since October 5 last year, and the spot gold rose nearly 1%and broke through 1925 US dollars. Anti -1900 US dollars were forced, and finally closed down 0.22%, a consecutive trading day in a row. As the Federal Reserve Hawk's expectations gradually decreased, the price of gold failed to further open up the upward space, highlighting the large -scale technology buying pressure, and the short -term trend entered a high -level consolidation.


Spot gold xauusd 4 -hour chart




Technical analysis:

Looking at the 4 -hour chart, the price of gold is blocked again under 1920, and the amount of MACD capacity can also be reduced in the zero axis, which shows that the adjustment of the market is highly adjusted. The top is still dominated by dips, with a target of 1920-1930.

Resistance level: 1920.00 1930.00

Support bit: 1900.00 1880.00

Trading strategy: Barrow on 1900.00, target 1920.00 1930.00
Alternative strategy: Watch the fall under 1900.00, target 1880.00 1870.00

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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