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Gold: 1900 support is effective
2023-01-18
1396
Fundamental analysis:
On Tuesday (January 17), the European Central Bank considers the news that slowed interest rates to 25 basis points in March to depreciate the euro exchange rate. The US dollar index is still hovering at seven months. %. As the US economy slows down and inflation is expected to continue to fall, the market will further slow down the pace of interest rate hikes to the Fed, and the rise in gold prices is expected to continue.
Spot gold xauusd 4 -hour chart
Technical analysis:
Looking at the 4 -hour chart, the price of gold is blocked again under 1920, but it has not changed the trend of the bulls. At the same time, the amount of MACD capacity can still appear on the zero axis. Following the 1900 line, on the 1900, it is still the most important thing, with the target 1920-1930.
Resistance level: 1920.00 1930.00
Support bit: 1900.00 1880.00
Trading strategy: Barrow on 1900.00, target 1920.00 1930.00
Qualification Strategy: Watch the fall under 1900.00, target 1880.00 1870.00
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.
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