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Gold: Continue to decide under 1663

2022-10-17
1041
Fundamental analysis:

On Friday (October 14), the US retail sales in September increased from the month -on -month growth and long -term inflation expectations. The index of long -term inflation was unexpectedly strong. From the minimum of 1670 to nearly $ 1639, it closed up 1.44%throughout the day. In the market, the Federal Reserve was re -ignited, and even 100 basis bets in interest rate hikes were even faced with great pressure this week.

Spot gold xauusd 1 hour map


Technical analysis:

Looking at the 1 -hour picture, the price of gold appeared again after the rebound 1663, and the resistance appeared downward. At the same time, MACD continued to make a state of volume up and down, showing that the short trend continued. At present, the resistance level has been moved down to 1663. Under the position, we will continue to look at the drop, and the target below is 1630-1615.

Resistance level: 1663.00 1683.00

Support bit: 1630.00 1615.00

Trading strategy: Watch the fall under 1663.00, target 1630.00 1615.00

Extracting strategy: Bullies above 1663.00, target 1683.00 1700.00

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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