Gold: 1920 is a long and empty watershed

Fundamental analysis:

Data released on Thursday (January 26) showed that the core PCE price index of inflation indicators favored by the Federal Reserve slowed down in the fourth quarter, but the US GDP in the fourth quarter was better than expected. The lowest level since April has increased the hope of soft landing in the US economy. The US dollar index has soared to 102.2, closing up 0.29%. After the strong US economic data was announced, the spot gold was under pressure, ending a new high of 9 months on the end of the 5th, and closing a 0.88%closing of 0.88%.

Spot gold xauusd 4 -hour chart

Technical analysis:

Looking at the 4-hour chart, the price of gold fell after 1950, and the amount of MACD could be reduced above the zero axis, showing the market or entering the adjustment of the adjustment choice. Currently focusing on supporting support near 1920. Watch near 1900 near 1920.

Resistance level: 1940.00 1950.00

Support bit: 1920.00 1900.00

Trading strategy: Bullies above 1920.00, target 1950.00 1970.00

Qualification Strategy: Watch the fall under 1920.00, target 1900.00 1880.00