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Gold: Look at the decline under 1785

2022-12-07
1483
Fundamental analysis:

On Tuesday (December 6) U.S. economic data will continue to affect the prospects of the US dollar and the trend of gold prices. Recent positive data will lead to
The United States finger strengthened. The inverted chart of the two -year and 10 -year key yield curves has gone to nearly 85 basis points, and it has reached the deepest since 1981. The spot gold once touched $ 1780, and eventually closed up by 0.12%. After various data reduce inflation pressure, core inflation data will become an important data for the market before the Fed's interest rate resolution.

Spot gold xauusd 4 -hour chart




Technical analysis:

Looking at the 4-hour chart, the price of gold is maintained below 1785. At the same time, the MACD starts to present the volume under the zero axis, indicating that the market may enter the downward trend. The current attention of 1785 is the main point. 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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