Gold: Look at the decline under 1637

Fundamental analysis:

Thursday (October 20) was stimulated by a number of Federal Reserve officials' eagle speeches, and the 10 -year US debt yield rose 4.2%, and continued to refer to the high level in 2008. The spot gold rose over 1%within a time, rising to 1645.62 The dollar/ounce then fell quickly, and finally closed down 0.03%. Before the next Fed's interest rate resolution on November 2nd, gold may fall into a new year because the central bank is expected to maintain its existing path to suppress inflation.

Spot gold xauusd 4 -hour chart

Technical analysis:

Looking at the 1 -hour picture, the price of gold has risen and falls, and it has fallen to the low point of the previous trading day. The MACD reappears again under the zero axis, showing that there is a demand for further expansion of the market. , Continue to decide under 1637, the target below 1615-1620.

Resistance level: 1637.00 1650.00

Support bit: 1615.00 1600.00

Trading strategy: Watch the fall under 1637.00, target 1615.00 1600.00

Alternative strategy: Bullies above 1637.00, target 1650.00 1670.00