Gold: Enter narrow consolidation

Basic face analysis:

On Wednesday (March 29), due to risk and emotion, the US dollar index reversed some recent declines. The "V" trend appeared in the market for a while, and finally closed up by 0.21%. %. Looking forward to the market outlook, as the Federal Reserve has entered the end of interest rate hikes, the market began to expect that monetary policy will return to loosening. If the banking crisis is further fermented, it will continue to stimulate risk aversion, and the rising trend of gold price will continue.

Spot Gold XAUSD four -hour chart

Technical analysis:

Looking at the 4 -hour chart, the spot gold rebounded slightly and fell slightly after the rebound. The trend entered a narrow range. MACD continued to shrink near the zero axis. -2000 near.

Resistance position: 1975 2000

Support bit: 1945 1930

Trading strategy: Bull above 1945, target 1975 2000

Alternative strategy: Below 1945, target 1930 1920