Xauusd:Will the decline stop today?

Gold fell rapidly at the opening of the market today, and some brokers fell as low as 1918.

This week, we need to pay attention to the release of major U.S. data, including the October consumer price index (CPI) released on Tuesday, which will further affect the market's expectations of the Fed's movements after 2023. By Wednesday, the market will turn its attention to the latest U.S. retail sales report, producer price index (PPI) and initial jobless claims, and other data releases to measure the health of the U.S. economy.A series of key US economic data and speeches by many Fed officials may inject greater volatility into the dollar.If the overall U.S. economic data paints a bright picture and the Fed spokesperson strikes a hawkish tone, this may maintain hopes of raising interest rates and thus boost the dollar.If the US economic data is disappointing, causing Fed officials to adopt a dovish stance, and betting on the Fed's suspension of interest rate increases increases, this will have a great impact on the trend of gold.

The area of gold 1930 is the 38.2% pullback level since the previous rise in 1810, while 1920 is the previous intensive area, which is the technical support level, so it is not surprising to stop the decline here today, and it is also very reasonable.

From the chart, you can see that gold has been in the range of 1933-1942 today

If gold does not fall below 1930-1933, it can be judged that gold has stopped falling for a short time, and observe the important boundary range of 1942-1945.

We need to pay attention to the upper resistance point range:
1952-1955
1942-1945
Pay attention to the range of support points below:
1930-1933
1923-1925

So you can choose to buy in the support range, observe whether you can break through the resistance range, strictly set the stop loss, and wait for the trend to become obvious.

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Haven't chosen the direction yet

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Today is Monday, and the fluctuation every Monday is very small

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Reach the first support interval

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If you follow my strategy, gold is now up 60pips

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Now that it has reached 1946, you can now choose to reduce your position and guarantee a certain profit

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Tomorrow I will continue to share my strategies to increase your success rate, join me

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The same trend as I predicted