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Gold: Focus on 1820 support

Fundamental analysis:

On Thursday (February 24) the United States first applied for unemployment relief last week to 192,000, which fell to the lowest level of three weeks, showing that the labor market was still hot. In the fourth quarter, the core PCE was repaired 0.4%. Closing down 0.16%. Looking forward to the market outlook, due to the US debt yield and the continued continuous US dollar, the gold price is suppressed, and the relationship between currency and fixed income in the short term is unlikely to be sharply reversed in the short term.

Spot gold xauusd 4 -hour chart

Technical analysis:

Looking at the 4-hour chart, after the price of gold fell 1820, a small stabilization rebounded. MACD was slightly reduced under the zero axis, and the market was selected in the short-term. If it falls below the 1820 below, the short is accelerated, and it will 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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