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Gold: Division finishing 1820-1846

2023-02-23
1132
Fundamental analysis:

On Wednesday (February 22), the Ministry of Federal Reserve ’s meeting showed that it will continue to raise interest rates slightly, more worried about inflation compared to the decline, and a few participants support 50 basis points in interest rate hikes. The US index rose sharply. The spot gold fell sharply in the US market, a drop of more than 20 US dollars, and fell below the 1830 mark, and finally closed down 0.53%. Looking forward to the market outlook, the Federal Reserve tightly expected to return to the market. Even though the price of gold faces resistance, as the sharpness gradually landed, the price of gold will also usher in a rebound opportunity.

Spot gold xauusd 4 -hour chart




Technical analysis:

Looking at the 4-hour chart, the gold price continues to decline after being blocked under 1850. MACD is slightly capable of a small amount of volume under the zero axis. If it falls below 1820 below, the shortness will accelerate and look down near 1800.


Resistance level: 1847.00 1860.00

Support bit: 1820.00 1800.00

Trading strategy: Bullish under 1820.00, target 1830.00 1847.00
Qualification Strategy: Watching above 1820.00, 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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