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Gold: Low vibration and other directions

2023-02-09
1371
Fundamental analysis:

On Wednesday (February 8th), many Federal Reserve officials played the eagle, but like Powell's speech before, the market was not tough enough. The trend of the US dollar index was relatively mild. Even after the "New Eagle King" Kashkali began to speak, it once increased its $ 1,880, and as of the closing of 0.2%, for the third consecutive day to close.

Spot gold xauusd 4 -hour chart




Technical analysis:

Looking at the 4 -hour chart, the gold price rebounded again 1885 to be blocked. It confirmed the resistance for the second rebound. The short -term market entered adjustment.


Resistance level: 1885.00 1900.00

Support bit: 1860.00 1840.00

Trading strategy: Watch the fall under 1885.00, target 1860.00 1840.00
Alternative strategy: Bullies above 1885.00, target 1900.00 1920.00

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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