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Gold: Support attention 1742
2023-03-07
1263
Fundamental analysis:
On Monday (March 6), due to the approaching risk factors such as Powell's speech and non -agricultural data, the spot gold fell at a high level and finally closed down 0.28%. Looking forward to the market outlook, the market focuses on the semi -annual monetary policy report of Powell, chairman of the Federal Reserve of the week. If Powell continues to keep the eagle position, the US dollar is expected to rise sharply and suppress gold, and vice versa.
Spot gold xauusd 1 hour chart
Technical analysis:
Looking at the 1-hour chart, the price of gold fell below 1860, and MACD was narrowed in a narrow range near the zero axis. The current support is mainly concentrated near 1842, and the daily view of 1842 is bullish. Look at near 1830-1820.
Resistance level: 1860.00 1870.00
Support bit: 1820.00 1805.00
Trading strategy: Bullies above 1842.00, target 1850.00, 1860.00
Qualification Strategy: Watch under 1842.00, target 1830.00, 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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