XAUUSD: sell high and buy low, look at 1951 in the day

On the hourly chart, the price of gold may fall below $1,951 in the short term, and is expected to further drop to $1,941, which are the 38.2% Fibonacci retracement and 61.8% Fibonacci retracement of the upward range from $1,925 to $1,968 stalls.

The international gold price fell slightly under the pressure of the rebound of the US dollar, and the short-term view is 1941 US dollars. However, due to the fact that the US market is closed, the market transaction is light. Investors continued to assess the future path of interest rates following hawkish comments from Fed policymakers.

Matt Simpson, senior market analyst at City Index, said: "Gold has spent most of June between $1,935 and $1,970, and with no obvious catalysts emerging, traders are more willing to trade within the range, not entirely. Hope to break out of the range."

Gold prices edged lower last week as traders ramped up bets on a July rate hike after a hawkish Federal Reserve paused after 10 straight rate hikes. Traders are currently pricing in about a 72 percent chance of a rate hike in July, according to the CME's "FedWatch" tool.

Christopher Wong, FX Strategist at OCBC Bank, said: "Historically, gold prices have probably outperformed at the end of a Fed tightening cycle. While the opportunity cost of holding gold has risen, we see lower real yields at some stage. It shouldn't be too long, and that could support gold prices."

Investors are now waiting for Federal Reserve Chairman Powell's testimony before Congress on Wednesday (June 21) and Thursday (June 22) for further clues about the future path of the Fed's interest rate.

Trade active:

fell to 1956

Trade active:

Fell to 1955,We wait for the next point of support

Trade active:

The current price is 1951, and the short order has already made a small profit of 7 US dollars. Today's market is limited, and all operations within the day are mainly short-term. Those who are stable can manually reduce their positions and collect money

Trade active:

Short-term decline to 1951, can the following 1941 be as predicted?

Trade active:

Comment:

Trading signals are all correct

Trade active:

Can 1941 be there today?

Trade active:

Can Gold 1950buy Stop the Fall and Rebound?

Trade closed manually:

The market amplitude range is too small, and the rise is weak and TP leaves the market temporarily. Although the market is not good, all signals are profitable today

Trade closed manually:

The market amplitude range is too small, and the rise is weak and TP leaves the market temporarily. Although the market is not good, all signals are profitable today

Trade closed manually:

Today's analysis was completed as scheduled, bye

Trade closed manually