Xauusd:Will gold break through the previous high?

Due to speculation that the Federal Reserve has completed raising interest rates and will ease policy next year, U.S. Treasury bonds continued their November rally, the dollar fell and gold rose.

The dollar is under selling pressure, mainly because the market generally believes that the Fed will not raise interest rates further.This led to the devaluation of the U.S. dollar, which in turn drove the price of gold to rise.Investors' bets on the Federal Reserve not raising interest rates have increased, which makes gold an attractive investment choice.Secondly, concerns about the cooling of the US economy are also one of the reasons for the rise in gold prices.Any sign of a cooling US economy will give the Fed less room to maintain higher interest rates for a longer period of time, which is good for gold.In addition, the deterioration of the global economic situation may also drive the inflow of safe-haven funds into gold, further driving its price up.

Judging from the chart, gold is still in a strong upward trend, but I mentioned yesterday that the rapid rise will definitely be adjusted in the end.

Judging from the technical indicators, the 1H indicator is already overbought, and the daily line is not much room from the previous high.

So it is not very wise to choose to buy now, because it is an upward trend, you can wait for the falling support point to buy again, the support point is 2040, 2030

Because there is not much room from the previous high, you can still choose to sell gradually. As long as you manage your position and strictly set your stop loss, the profit-loss ratio is more cost-effective.

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