Gold: Power Movement 1682

Fundamental analysis:

The US inflation data released on Thursday (October 14) caused a fierce fluctuations in the entire financial market. The annual annual rate of the core CPI in September rose to 40 years, which further consolidated the Fed's expectations of continued to raise interest rates. After the announcement of the CPI, it rushed up and fell below the 113 mark. The yield of 10 -year Treasury bonds in the United States once exceeded 4%. Spot gold fell vertically from 1680, and then rebounded, and finally closed down 0.62%. The super -expected inflation data may extend the Fed's radical rate hike to next year, which will make the US dollar bull market last longer, and gold may continue to fall in a longer period of time.

Spot gold xauusd 1 hour map

Technical analysis:

Looking at the 1 -hour chart, the price of gold appears again at 1682, and the resistance level is confirmed twice. At the same time, the MACD is in a capacity of the zero axis, showing that the short -term is in the short term. Under this bit, we look at the disadvantaged callback, and the goal below is 1648-1630.

Resistance level: 1682.00 1672.00

Support bit: 148.00 1630.00

Trading strategy: Watch the fall under 1672.00, target 1648.00 1630.00

Alternative strategy: Bullies above 1672.00, target 1682.00 1700.00