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Gold: Power move down 1680
2022-10-11
1656
Fundamental analysis:
On Monday (October 10), the Eagle Fed and the strong non -agricultural data continued to crack down on market risks. The US dollar index station was 113, spot gold accelerated, and the daily declines fell more than 30 US dollars, and finally closed down 1.69%. The World Gold Association pointed out that gold continued to undergo pressure, September Gold ETF further flowed out, and gold prices were facing large pressure this week.
Spot gold xauusd 4 -hour chart
Technical analysis:
Looking at the 4 -hour chart, the price of gold has been accelerated after falling below 1700, and MACD also began to measure under the zero axis, showing that there is further low space for the market. At present, the resistance has been moved down to 1680. The target below is 1660-1640.
Multi -time turning point: 1680.00
Resistance level: 1680.00 1700.00
Support bit: 1660.00 1640.00
Trading strategy: Bullies above 1680.00, target 1700.00 1730.00
Extracting strategy: Watch the fall under 1680.00, target 1660.00 1640.00
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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