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Gold Spot / U.S. Dollar

Gold market and trend analysis

By Anthony-Ryan
Updated
snapshot

Gold is currently trading in a range. This week’s lowest was at 1906.05 and then reached around 1910 again. As the U.S. dollar index rose 0.2%, the market was full of expectations for the U.S. CPI. Many traders chose to temporarily exit and wait for the data to appear before finding a suitable entry time.

However, when investors focus all their attention on the CPI data in the United States, they also need to mainly focus on the European Central Bank's decision-making. The upcoming interest rate adjustments in Europe will also affect the trend of the gold market, and some investors will also use gold as a way to avoid capital risks due to the instability of the euro.

Judging from some current information, gold falling below 1900 is the psychological level of most investors, but once the CPI data rises, gold prices may rebound.

On the other hand, market analysts believe that if gold reaches the 1893.07 and 1885.79 support points again, it will indicate that gold will fall to the 1850 level.
Note
Technical analysis
The daily char of gold continues to trend downward, and it continues to try to break through the 1904 point.
In the 4-hour chart, the price of gold is falling below the 20-period and 100-period moving averages, and the price of gold is accelerating its downward trend.
Note
The market is choosing a direction. After the CPI data is released, there is a continuous cycle of rising and falling every 5 minutes.
Wait for the signal point. The resistance level is 1915, and the support level is 1904.
Note
Bokeh Capital Partners' first investment officer said today's CPI data is not enough for the Federal Reserve to raise interest rates. The overall inflation rate is an illusion, it's more about the increase in fuel prices.
Investors please be wary of gold trends.
Please enter my free signal channel for the latest information.
Note
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US market traders enter. Wait for the next signal.
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Anthony-Ryan
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