On Thursday, as the strong US employment data dispelled the market's expectations of the Fed's recent rate cut, the US dollar index rose sharply before the US market, returned to above the 97 mark, and once rose to an intraday high of 97.42.
Spot gold fell sharply, once falling to $3311 during the session, a drop of more than $50 from the intraday high, and then recovered some of its losses and remained near 3330 for consolidation.
The current upper suppression position of the daily line is almost here at 3350, and the lower support is located at 3320-25.
So if it is maintained in the range of consolidation, it is likely to be rectified at 3320-50.
Secondly, from the hourly chart:
It can be seen from the trend of 3247 to 3365.
The Fibonacci 618 position is exactly here at 3320.
Although the lowest point last night was pierced to around 3311, it can be seen that the entity still closed above 3320.
As long as 3320 cannot be broken, the best case scenario is to maintain it at 3320-50 for consolidation. If not, once 3350 is broken, the high point of 3365 will definitely not be able to be maintained.
Therefore, for today's operation, try to maintain the high-selling and low-buying range of 3320-50.
Spot gold fell sharply, once falling to $3311 during the session, a drop of more than $50 from the intraday high, and then recovered some of its losses and remained near 3330 for consolidation.
The current upper suppression position of the daily line is almost here at 3350, and the lower support is located at 3320-25.
So if it is maintained in the range of consolidation, it is likely to be rectified at 3320-50.
Secondly, from the hourly chart:
It can be seen from the trend of 3247 to 3365.
The Fibonacci 618 position is exactly here at 3320.
Although the lowest point last night was pierced to around 3311, it can be seen that the entity still closed above 3320.
As long as 3320 cannot be broken, the best case scenario is to maintain it at 3320-50 for consolidation. If not, once 3350 is broken, the high point of 3365 will definitely not be able to be maintained.
Therefore, for today's operation, try to maintain the high-selling and low-buying range of 3320-50.
Trade active
ator MACD crosses and oscillates with shrinking volume, and the dynamic indicator STO fast line shows a broken line downward pressure, indicating that the daily line has signs of a second decline. At present, we should pay attention to the support of the MA60 moving average at 3319, and the MA30 moving average and the middle track pressure corresponding to 3313-3349. The current lower track support is around 3279.
Senior Financial Analyst Main expertise: Analysis of financial products such as gold, US dollar, digital currency, etc. Telegram link: t.me/+43sO_tENBOswYWMx
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Senior Financial Analyst Main expertise: Analysis of financial products such as gold, US dollar, digital currency, etc. Telegram link: t.me/+43sO_tENBOswYWMx
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.