Xauusd:How long will the war last?
It's Friday again, and a very heavy data will be released today-the core PCE of the United States in September.
Last week, Powell revealed that the annual rate is 3.7%, so we see that the market's expectation is also 3.7%. It shouldn't be surprising, but the monthly rate and one-year inflation expectations are still worth paying attention to. In addition, there is the University of Michigan Consumer confidence Index. These are important factors that determine whether the Fed will continue to tighten monetary policy in the future.
In the United States, the initial value of the annualized quarterly rate of real GDP in the third quarter of the United States was 4.9%, a new high since the fourth quarter of 2021.You must know that the previous value is only 2.1%. The U.S. economy is too good, and the recession seems far away.
Then Yellen also said: the higher US bond yields are also a manifestation of the strong economy.
In terms of gold, the highest point yesterday was 1993 and the lowest point reached 1972. As can be seen from the chart, the high point of gold is gradually moving down, and the low point is gradually increasing. It can be judged that the space for gold is shrinking again, and the bulls and bears are competing for it.
We need to pay attention to the upper resistance point range:
1991-1995
1997-2000
Pay attention to the range of support points below:
1982-1985
1974-1978
1962-1968
So today we still follow the previous strategy, and gold still tries to sell in the resistance range. If we break through the previous high of 1997, we can stop the loss and leave first.
The low on Tuesday is 1952, the low on Wednesday is 1962, and the low on Thursday is 1972. Then the low on Friday focuses on the trend line support point 1975.
It should be noted that the situation in the Middle East is likely to escalate over the weekend. Yesterday, Israel launched a partial ground offensive. It is unknown whether it will continue to increase personnel in the future, so today we need to strictly set the stop loss for trading, and it is best not to leave today's trading orders until next week.
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Waiting for U.S. market time
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The volatility is very small now, waiting for news data from the United States
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Gold also began to fall, observing the support of the boundary point 1975
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There is news that Qatar has accelerated its efforts to mediate a ceasefire in Gaza
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Today is Friday. If you still have trading orders, it's best not to stay until next week to avoid accidents on the weekend. The trend of gold and oil is the same as I predicted, but there is no good entry point. No matter if you make a profit or a loss this week, I hope you and your family can have a good weekend. I will continue to share next week and let us make a profit together next week.
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Driven by the geopolitical war situation, gold rose strongly in the final session, and gold rose as high as near 2010, which is in line with the resistance point of the war that I inferred before to expand gold.
