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Gold: Continue upward

Basic face analysis:

The actual GDP and "small non -agricultural" data released in the second quarter announced on Wednesday (August 30) were not as expected, which helped reduce the pressure of the Federal Reserve to further raise interest rates. In low, the spot gold has gone up for 3 consecutive days and closed up by 0.26%.

Spot gold xauusd four hours

Technical analysis:

Looking at the 4-hour chart, gold continues to rise above 1935. At one time, it touched near 1950. The MACD volume could be measured on the zero axis. The short-term trend was still in the short-term trend. It supported the attention near 1935. The resistance was near 1955-1970.

Resistance position: 1955 1970

Support bit: 1935 1925

Trading strategy: Bull above 1935, target 1945 1960
Alternative strategy: Below 1935, target 1925 1910

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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