Gold: Support Upper 1935

Fundamental analysis:

On Wednesday (February 1), the "small non-agricultural" ADP data was not as good as expected. In the early morning of Thursday morning, the Fed FOMC announced the latest interest rate resolution, which raised the benchmark interest rate by 25 basis points to 4.50%-4.75%. In order to slow down the pace of interest rate hikes for the second consecutive consecutive consecutive consecutive consecutive consecutive times, the next meeting will continue to tightening. After the resolution was announced, the spot gold fell short -term, and then fell after the FOMC statement was wiped off. After Powell's speech, it had greatly increased and exceeded 1950 US dollars. It refreshed a new high since April 22, 2022, and rose by more than 1%within the day.

Spot gold xauusd 4 -hour chart

Technical analysis:

Looking at the 4 -hour chart, the price of gold continues to rise above 1920 and breaks through the front high 1950 line. MACD is in a rapid volume on the zero axis, showing that the market is expected to continue its strength. Look at the goal above 1960-1980.

Resistance level: 1960.00 1980.00

Support bit: 1935.00 1920.00

Trading strategy: Bullies above 1935.00, target 1960.00 1980.00

Alternative strategy: Watch the decline under 1935.00, target 1920.00 1900.00