XAUUSD 07-21-2023
Updated
Fundamentally, the Federal Reserve's inflation target has not changed, and there will be no significant policy changes, especially the decline in the US dollar, which provides greater confidence in raising interest rates. Later on, there was more reliance on data, especially since there was no interest rate meeting in August, which gave the market ample room for interpretation and operation. The decline of the US dollar will limit the lower limit of gold's decline, and the Federal Reserve's interest rate hike will also limit the upper limit of gold's rise.
After breaking through 1967, the continuity of bearish positions was broken, especially during the week when they rose above 1960. However, the adjustment in the middle erased the dominant form. After the bulls were eager to advance, they closed yesterday devouring 1969, especially forming a 1H small platform that was not very friendly to the bulls. It was also difficult for them to fall to 1925 without breaking the psychological defense line from 1945 to 1952. It was more like a retreat from a bulls who were eager to fall into the bag for safety, We need to observe how to adjust it later.
DAY, 1) 1978-1981 (?), 2) 1989 (first notice), 3) 1994 (to be noted)~2006, 4) 2017-2022, 5) 2050
-1) 1960-1963 (?, today's closing price), -2) 1945-1952, -3) 1932 (first notice), -4) 1918-1925 (first notice)
What do you think? Welcome to explore together
After breaking through 1967, the continuity of bearish positions was broken, especially during the week when they rose above 1960. However, the adjustment in the middle erased the dominant form. After the bulls were eager to advance, they closed yesterday devouring 1969, especially forming a 1H small platform that was not very friendly to the bulls. It was also difficult for them to fall to 1925 without breaking the psychological defense line from 1945 to 1952. It was more like a retreat from a bulls who were eager to fall into the bag for safety, We need to observe how to adjust it later.
DAY, 1) 1978-1981 (?), 2) 1989 (first notice), 3) 1994 (to be noted)~2006, 4) 2017-2022, 5) 2050
-1) 1960-1963 (?, today's closing price), -2) 1945-1952, -3) 1932 (first notice), -4) 1918-1925 (first notice)
What do you think? Welcome to explore together
Note
protecting profits, follow the reflection of 1960
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