Xauusd:Continuation of last week's decline

Not only did the number of new non-farm payrolls in November exceed expectations, but the unemployment rate unexpectedly fell to 3.7%, and hourly wages exceeded expectations.After the release of non-farm payrolls data, the swap contract showed that the market lowered its expectations for the Federal Reserve to cut interest rates in 2024, and the probability of keeping interest rates unchanged in December rose slightly.This week's market will focus on the CPI data released on Tuesday, which will reflect the recent inflation issues in the US market, as well as the Fed's interest rate decision on Thursday. The interest rate decision announced this time will be the last time this year to announce whether the Fed will raise interest rates. Judging from the data in the December non-farm payrolls report, it is expected that there will still be no interest rate hike this time.

As can be seen from the chart, gold still maintains a downward trend, paying attention to the support of 1995, 1985, and 1950.

From the technical point of view, the daily line fell below the middle Bollinger band of the daily cycle last Friday. The space for this wave of decline depends on the support point of the lower Bollinger band of the daily line 1950, and there is almost no support point in the middle, so we can sell mainly.

This week's key data are CPI and the Fed's interest rate decision, so the volatility on Monday will not be too great, and the current range is between 1990-2010.

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As I predicted, the range fluctuates

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