XAUUSD GO SHORT
Updated
The U.S. dollar index remained strong last Friday, and has remained strong for nearly two months. Month K also maintained bullish control for two consecutive months!
This week, the U.S. dollar index fell. At present, we need to pay attention to the "important change" in the stance of the Federal Reserve, which may suspend raising interest rates in September. The U.S. dollar index will still exceed 105.5 before the announcement.
Gold has seen a certain rise in the Asian market, but is still trending downward. The upper level of 1928 is the current watershed between long and short. Until it breaks through this pressure position, continue to be bearish.
Note
The gold price will rebound between the 21-day average trading line 1916-1932. It is more inclined to the price downward. 1916 and 1932 were breaking points.Note
Before the August CPI data is released, gold will now be in a range trading state and will not see particularly big changes.Note
The current decline is the same as our analysis. After yesterday's range trading. It has now fallen to a new support level. Next, wait for the short-term rebound of the US market, and look at 1904.
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