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Inflation remains high US Federal Reserve stands firm

2022-06-02
964
Fundamental analysis:

Gold remained volatile around 1846, international gold prices remained volatile, and inflation expectations remained high. The Fed may have no choice but to stick to a tough policy stance.

Gold xauusd - 4-hour K-line diagram display:



Technical comments: the short power continued to fluctuate downward in the middle and lower tracks of the Bollinger belt index channel, and rose briefly after the low level reached the node near 1828. However, the overall downward trend of the market may continue. The Bollinger belt index continued to move downward after a slow opening trend. The MACD index maintained consolidation below the 0 axis, and the RSI index remained fluctuating below the 50 equilibrium line;


Multi empty turning point: 1850


Pressing position: 1861, 1869


Support position: 1836, 1825


Trading strategy: bearish below 1850, target 1836, 1825


Alternative strategy: bullish above 1850, goals 1861 and 1869


The above analysis is a personal point of view and is for reference only.

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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