On Thursday (August 24), as the market trading sentiment became cautious before Powell's speech, spot gold fluctuated flat, still hovering near a two-week high, and finally closed up 0.13%. Looking ahead, combined with the recent remarks of Fed officials, the bank's internal disagreement on the outlook for interest rate policy is very serious. Powell may not release clear guidance at the upcoming global central bank annual meeting, and the trend of gold prices remains unclear.
Spot gold XAUUSD 4 hours
Brief technical analysis:
Looking at the 4-hour chart, gold remains above the 1910 mark, the MACD volume can increase on the zero axis, and the short-term trend is still bullish. The support focuses on around 1910, and the resistance focuses on the upper 1930-1940.
Resistance level: 1930 1940
Support level: 1910 1900
Trading strategy: bullish above 1910, target 1930 1940
Alternative strategy: bearish below 1910, target 1900 1895