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Gold: Back under 1830

Fundamental analysis:

On Thursday (March 8th), Xiaopei Farm "once again fired the expectations of radical interest rate hikes. The number of employment in the United States in February increased by 242,000, which was stronger than the expectations of increasing 200,000. The chances increased to 75%; Powell reiterated at the House of Representatives' hearing, which will be data -oriented. The US index set a new 3 -month high and the spot golden sideways. Looking forward to the market outlook, the non -agricultural employment report on Friday, the average hourly salary will be the market. The main focus of attention.

Spot gold xauusd 4 -hour chart

Technical analysis:

Looking at the 4-hour chart, the gold price fell below the 1830 low point and rebounded again. The MACD was in a capacity state under the zero axis. The strong support of the 1830 converted into a strong resistance.

Resistance level: 1830.00 1845.00

Support bit: 1800.00 1780.00

Trading strategy: Bullies above 1830.00, target 1845.00, 1860.00
Qualification Strategy: Watch the decline under 1830.00, target 1800.00, 1780.00

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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