CM Trade

Download APP to receive bonus

GET

Gold: Follow 1900 gains and losses

2023-02-03
1206
Fundamental analysis:

On Thursday (February 2), the market once again interpreted the European Central Bank and the Bank of the United Kingdom's decision. The euro and the British pounds accelerated their declines. After the failure of 1960, it plummeted nearly $ 40. It completely wiped out all the gains after the Fed's interest rate resolution was announced. The session fell below the 1920 mark.

Spot gold xauusd 4 -hour chart




Technical analysis:

Looking at the 4 -hour chart, the price of gold fell after the rush of 1950, and the "inverted V" trend was formed high. MACD appeared on the zero axis rapidly, showing that the market faced the turning point of the change. For the water division, there is still a rebound driving force on the 1900, falling below 1900 to see near 1880-1860.


Resistance level: 1925.00 1940.00

Support bit: 1900.00 1880.00

Trading strategy: Barrow on 1900.00, target 1925.00 1940.00
Qualification Strategy: Watch the fall under 1900.00, target 1880.00 1860.00

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More