Gold: Broken position falls

Basic face analysis:

On Monday (July 24), the economic data released by the United States on Monday (July 24) was semi -ginseng, the manufacturing PMI performance was strong, and the service industry PMI fell. It was a 5 -month low as the comprehensive PMI. In addition, the inflation and stickiness still existed. Spot gold was subject to the rebound of the US dollar index and US debt yields. It lost the 1960 mark and fell for 4 consecutive trading days. It wiped out all the increase in the past week and closed down 0.37%.

Spot Gold XAUSD four -hour chart

Technical analysis:

Looking at the 4-hour chart, the gold further fell below 1965. The amount of MACD could wear a zero axis, and the resistance moved to 1965-1975.

Resistance position: 1965 1975

Support bit: 1950 1930

Trading strategy: Below 1965, the target 1950 1930

Alternative strategy: Bull above 1965, target 1975 1987