Gold: Watch under 1885

Fundamental analysis:

According to the data released on Friday (February 10), the initial value of the consumer confidence index of the University of Michigan rose from 64.9 in January to 66.4. Although more optimistic than January, the theory boosted the US dollar, but in view Later support, and the market has shifted attention to CPI data released this week, Microsoft and Gold did not fluctuate sharply after the data was announced. Looking forward to the market outlook, the announcement of the US CPI inflation data this week may lead to further downward or reversal of market emotions, and it is necessary to focus on attention.

Spot gold xauusd 4 -hour chart

Technical analysis:

Looking at the 4-hour chart, the price of gold is narrowed, and the MACD also sharply shrinks near the zero axis, showing that the market enters the direction selection stage. The short-term short trend continues. Continue to decide under 1885, and the target below is near 1850-1830.

Resistance level: 1885.00 1900.00

Support bit: 1850.00 1830.00

Trading strategy: Watch the fall under 1885.00, target 1850.00 1830.00

Alternative strategy: Bullies above 1885.00, target 1900.00 1920.00