GOLD:Limited callbacks, focus on US GDP this week
The US GDP data for the first quarter to be released on Thursday is expected to provide direction for the US dollar and gold. If the US GDP data for the first quarter performs well, it may boost the US dollar, which in turn puts pressure on gold prices.
However, since the end of last year, the Fed's expected terminal interest rate has remained at about 5%. As the Fed's current round of interest rate hike cycle nears its end, or for a period of time after the May interest rate decision, the market has begun to turn its attention to the prospect of interest rate cuts in the second half of this year. A sharp strengthening of the dollar is unlikely, and the decline in gold prices may only be short-lived.
On the daily chart, the gold price fell below the upward channel on Friday, but it did not rebound as quickly as last Wednesday. It tends to be bearish in the short term, and the direct support may be between 1,970-1,960.In the absence of more bearish factors, large fluctuations in gold prices may have to wait until the GDP data is released on Thursday.
On the whole, the grasp of recent trends is still relatively accurate. If you have any unclear operations, you can click on the link below. I will share any developments with you.I believe it can help you.
However, since the end of last year, the Fed's expected terminal interest rate has remained at about 5%. As the Fed's current round of interest rate hike cycle nears its end, or for a period of time after the May interest rate decision, the market has begun to turn its attention to the prospect of interest rate cuts in the second half of this year. A sharp strengthening of the dollar is unlikely, and the decline in gold prices may only be short-lived.
On the daily chart, the gold price fell below the upward channel on Friday, but it did not rebound as quickly as last Wednesday. It tends to be bearish in the short term, and the direct support may be between 1,970-1,960.In the absence of more bearish factors, large fluctuations in gold prices may have to wait until the GDP data is released on Thursday.
On the whole, the grasp of recent trends is still relatively accurate. If you have any unclear operations, you can click on the link below. I will share any developments with you.I believe it can help you.
Comment:
Continue to fall, there will be opportunities for rebound soon
Comment:
There was a lot of gold yesterday and a lot of short positions today. It was a perfect and seamless switch. The short orders of 1998 in early trading fell again and made a profit!Today, the early trading discussion group directly prompted the direct shortfall, and it fell as scheduled! Where is the next support? Can you enter more orders now? Click the link below to enter the channel to get it.
Comment:
The trend is better, the problem is not big
