Gold: Surge and fall

Basic face analysis:

On Monday (August 7), the Federal Reserve Hawks again suppressed it. Federal Reserve ’s director Bowman said that it would be expected to further raise interest rates to reduce inflation to the target level. Spot gold rose first and fell at the 1930 US dollars, and finally closed down 0.36%. Looking forward to the market outlook, the base point of the golden price fluctuation has been confirmed. The CPI inflation data is the focus of attention this week, and then it may become an inflection point of the trend.

Spot gold xauusd four hours

Technical analysis:

In the 4-hour chart, gold fell below 1940 again. The amount of MACD can maintain the zero axis, and the trend returns to the weak again. It supports 1925, and the resistance is 1940-1950.

Resistance position: 1940 1950

Support bit: 1925 1910

Trading strategy: Drink below 1940, target 1925 1910

Alternative strategy: Bull above 1940, target 1950 1970