简体中文
ภาษาไทย
繁體中文
Indonesia
Gold: Support moved up 1660
2022-10-27
1550
A brief analysis of the fundamentals:
On Wednesday (October 26), the U.S. dollar index fell 1% on the day as traders bet the Federal Reserve would slow the pace of interest rate hikes after signs of a slowdown in the economy. The 10-year yield fell for a second day, falling as much as 8 basis points to 4.02% from this month's high of 4.34%. The market's re-pricing of the Fed's interest rate hike expectations boosted the trend of gold prices. Spot gold rose more than 1% in the day, standing at the 1670 mark.
Spot Gold XAUUSD 4-hour Chart
A brief technical analysis:
From the 4-hour chart, the price of gold continued to rebound after gaining support near 1642. At the same time, the MACD began to increase its volume above the zero axis, indicating that the market may go higher. The current support has moved up to 1660, and it continues to rise above 1660 within days. Lord, target 1680-1700 above.
Resistance: 1680.00 1700.00
Support level: 1660.00 1642.00
Trading strategy: bullish above 1660.00, target 1680.00 1700.00
Alternative strategy: bearish below 1660.00, target 1642.00 1622.00
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.
Free AccessDaily Trading Strategy
Download Now
CM Trade Mobile Application
Economics Calendar
More
