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Gold: Look at the decline under 1785

2022-12-06
1365
Fundamental analysis:

Monday (December 5th) multiple data in the United States is better than expected. At the same time, the "New Federal Reserve News Agency" posted that salary pressure will promote the Federal Reserve to make interest rates rang up by 5%next year, which is higher than investors' current expectations. The possibility, the US finger rebounded above 105, the spot gold fell below $ 1770. With the market's expectations of the Fed's slow interest rate hike gradually, the price of gold in the market may face a new round of pressure.

Spot gold xauusd 4 -hour chart




Technical analysis:

Looking at the 4 -hour chart, the price of gold has expanded after falling below 1785. At the same time, the MACD shrinks sharply above the zero axis, indicating that the market may enter the downward trend. The current support 1785 has been converted into resistance. 1760-1740.

Resistance level: 1785.00 1800.00

Support bit: 1785.00 1770.00

Trading strategy: Watch the decline under 1785.00, target 1770.00 1755.00
Extracting strategy: Bullies above 1785.00, target 1800.00 1820.00

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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