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Gold: Follow 1910 gains and losses

2023-06-28
672
Basic face analysis:

On Tuesday (June 27), the US New House sales and consumer confidence index exceeded expectations in May, and then showed the strong trend of the US economy. With the announcement of the data, spot gold rose first and fell. %. Looking forward to the market outlook, investors mainly pay attention to the speech by the Federal Reserve Chairman Powell, and more data that may provide future interest rate hike clues.

Spot Gold XAUSD four -hour chart


Technical analysis:

Looking at the 4-hour chart, when the gold fell again, it fell near 1910. The MACD volume could re-measure under the zero axis, focusing on the support of 1910, which is the long-term watershed in the day, and the upper resistance is near 1940-1950.

Resistance position: 1940 1950

Support bit: 1920 1910

Trading strategy: Bull above 1910, target 1940 1950
Alternative strategy: Drink below 1910, target 1900 1880

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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