XAUUSD: Short-term test of 2939-2942 demand

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The explosion at the Russian Consulate General in Marseille has all the characteristics of a terrorist attack. With the announcement of the news, the price of gold rose by about $10 in the short term. So far, the news about Russia and Ukraine is basically calm.

So far, the transaction is in a narrow range. After the Asian session started, the lowest point fell to 2921, and then rebounded. The lowest point in the London market only touched 2935. There was no physical breakthrough, and there was a certain small support. The entire market is still in a high consolidation stage.

Combined with SMA, there is still a need to test 2939-2942 in the short term. If this position cannot be broken, we will choose the opportunity to trade long orders. The target is above 2950.

You need to maintain a cautious trading attitude before reaching the position. Try not to waste your balance.1

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