Gold: Look at the rebound above 1642

Fundamental analysis:

Monday (October 17) Britain announced that most of the tax reduction policies have boosted market sentiment and driving the European and American stock markets to join hands. As risk emotions increase, the US dollar index has fallen below the 113 and 1112 mark, and the closing danger is closed. Staying 112, a sharp closing of 1.068%, a collective counterattack of non -US currency, spot gold rushed to 1668.30 in front of the US market, and then fell below 1650, a slight increase of 0.08%, and stopped 3 consecutive days. The U.S. finger plummeted but failed to push the price of gold further, and the gold trend was generally weak.

Spot gold xauusd 1 hour map

Technical analysis:

Looking at the 1 -hour picture, the gold price stopped falling again after the recovery 1642, and the support was confirmed to form a short -term rebound platform. In this business, the bounce is mainly based on the bounce, and the goal above the target is 1660-1670-higher.

Resistance level: 1660.00 1670.00

Support bit: 1642.00 1630.00

Trading strategy: Watch the fall under 1642.00, target 1660.00 1670.00

Alternative strategy: Bullies above 1642.00, target 1630.00 1620.00