Gold: Continue to follow 1920

Fundamental analysis:

On the eve of the Fed's interest rate resolution on Tuesday (January 31), the quarterly labor cost index of labor cost indexes recorded 1%in the fourth quarter of the United States, and it has decreased for three consecutive quarters, showing the signs of slowing inflation in the United States again. What you want to see. Affected by the data, the US dollar index continued to decline, US debt yields fell, and spot gold rose sharply. It once returned to the 1930 US dollars, and finally closed up by 0.26%. In the early morning of Thursday, the FOMC resolution will be announced. By then, if the Fed will slow down to slow interest rate hikes, the price of gold is expected to be promoted again.

Spot gold xauusd 4 -hour chart

Technical analysis:

Looking at the 4 -hour chart, wearing 1905 in the gold price of the gold price was then pumping, forming a "inverted V" reversal, MACD was shrinking under the zero axis, showing that the market may continue to rise. On the top of 1920, it was near 1950-1970 and fell below 1920 to see near 1900.

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