If the Fed decides to cut interest rates in March, there is a high probability that gold will still have room to rise. If the Fed decides not to cut interest rates in March, market concerns about inflation may still push up gold. Therefore, it will be difficult for gold to get out of the downside in this environment. The current market is a process of hyping the Fed's interest rate decision. Before the Fed's interest rate decision, gold is pushed up, but it may also suppress the gold bulls after it is determined to cut interest rates or not, cooling the gold bulls and stepping out of the adjustment to ease the decline. Therefore, There is still room for gold to fall around March 19. Today, the market's focus is on US retail sales data, producer price index and unemployment benefits, which will have a greater impact on the US dollar and gold today.
Wednesday's rebound was too strong, the daily line continued to close up, and the 4H cycle range closed. Before setting a new high, gold still maintains a wide range of fluctuations under the bullish trend for the time being.
At present, the high point of 2195 and the effective support point of 2150 can be determined. There is no absolute rise or fall in gold before the data is released.
As long as gold remains above 2150, it is an absolute upward trend and may continue to rise. As for whether it can break the previous high of 2195, there is no need to guess if the trend is going. On the other hand, if it falls below 2150, it can be confirmed that gold is weakening, and then we will observe the trend. Support point 2135.
I do not expect to break through 2195 this week, so we will observe the second resistance point 2183, the large range 2190/2150, the small range 2160-2183, and the large range 2150-2195
You can choose to buy low and sell high within the range, or wait for the data to be released and follow the trend to trade and control your position reasonably.
Follow my trading strategies and your success rate will be greatly improved
Comment:
Wait for the data to be released and follow the trends
Trade active:
As long as you determine a direction, both buying and selling today will be profitable
Comment:
There is strong support near 2155-2157
Trade active:
Will it reach the point I predicted? let us observe
