Gold: Compete for 2000 points

Fundamental analysis:

On Friday (April 15), U.S. retail sales in March were lower than expected, the lowest since November last year. However, due to the sudden "sneak attack" of Fed Governor Waller and his hawkish remarks, the U.S. dollar index regained the 101 mark. Gold fell nearly $30 on the day. Looking ahead, the short-term correction of gold is more due to its own profit-taking, and the price is facing greater pressure near historical highs. The short-term driving factors have weakened, but the medium and long-term bullish logic remains unchanged.

Spot gold XAUUSD four-hour chart

Brief technical analysis:

Looking at the 4-hour chart, gold surged and fell back at the 2050 mark. At the same time, the MACD volume can shrink above the zero axis, and the demand for callbacks has intensified. The current support focuses on around 1982. At the same time, the upper pressure is around 2045, and the above 1982 is still bullish If it falls below 1982, it will look around 1960-1940.

Resistance level: 2030 2050

Support: 1982 1960

Trading strategy: Bullish above 1982, target 2030 2045

Alternative strategies: bearish below 1982, target 1960 1940