Xauusd:It's the key choice point again
Due to the recent hawkish rhetoric of Fed policymakers, everyone hopes that the Fed can achieve its goal of suppressing inflation, so gold prices fell again on Wednesday.
Pay attention to the data on U.S. unemployment benefits today
Today, gold fell as low as 1945, and the position of 38.2% of the Fibonacci retracement in the upward period from 1810 to 2007 was near 1933. If it did not fall below this data, gold would not be considered a real complete decline.
The current trend belongs to a small cyclical decline in a large cyclical pullback. You may have discovered that if you have to wait for a rebound to sell, but gold can't reach the resistance range.
Today's entire golden state just happens to be bullish and dare not enter, bearish and dare not chase, coupled with the 4-hour divergence of the indicators RSI and MACD, I still think it is possible to rebound today and then fall.
The suppression point of the decline and rebound is near the mid-Bollinger band of the daily cycle 1970
We need to pay attention to the upper resistance point range:
1962-1970
1953-1958
Pay attention to the range of support points below:
1941-1945
1933-1938
When gold reaches the support range for the first time today, you can buy in small batches based on your own funds, set a stop loss, and increase your success rate of profit.
In a downtrend, you can sell when you reach the resistance range
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Gold is now supported twice in 1945 and has risen
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If gold falls below 1944, then the possibility of continuing to fall increases
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U.S. unemployment benefits data will be released soon, this data will make gold more volatile
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The resistance point above is now at 1953. If it breaks through 1953, the chance of rising will increase.
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It has broken through 1953 and the rise has accelerated.
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Observe the resistance of 1970
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It's still a downward trend. Observe the strength of the rebound. Powell's speech will also affect the trend of gold
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Rising is a good opportunity to sell
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Powell's speech is hawkish
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Will it go back to 1945 again today?
