Gold trading analysis of the week

Over the weekend, Biden announced a debt ceiling agreement, which made the risk of default that the market feared disappear and was bearish for gold in the short term

The Fed raises the debt ceiling, the dollar in the market will naturally increase, thus affecting inflation, inflation will reverse and rise again, the Fed will use interest rate hikes to suppress, interest rate hikes will affect the dollar index higher, and gold and the dollar are negatively correlated, is bound to continue to suppress gold

In 2019, the Fed raised interest rates many times, gold was mainly wide or slightly down, and when the interest rate cut came in July 2019, gold ushered in a rise, which can predict that this interest rate hike gold prices will fall or fluctuate

Trading Strategy:

gold:sell@1950-1955 tp1942-1938

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Trade active:

today's analysis is no problem, then we just need to wait for the next suitable trading opportunity

Trade active:

We seized the most suitable trading opportunity for sideways trading, so we made a good profit

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Tomorrow we will continue