Xauusd:There is not much room to rise

Federal Reserve Chairman Powell delivered his last speech before the November interest rate meeting. Powell hinted that as long as recent efforts to reduce inflation continue to make progress, the rise in long-term US bond yields may cause the central bank to suspend historic interest rate increases.

This is partly because the rapid rise in long-term interest rates in the past month may slow economic growth and the continued rise in borrowing costs will actually replace the Fed's interest rate hike again.

In addition, Powell said that according to the Fed's preferred inflation indicator, the Fed estimates that the core inflation rate excluding volatile food and energy may rise by 3.7% in September, down from 3.9% in August, and one step closer to the Fed's 2% target.
(This is tantamount to telling you in advance that the core PCE for next Friday is 3.7%)

Today's highest point reached 1985, which was the top position in July, and then the market fell by more than 100 US dollars.So is it possible that the pressure here will peak again and fall back?

In theory, of course, the probability is not small, and there are signals that the rally is blocked on the indicator graph. The 4-hour graph is blocked three times. In addition, the current daily line K has also entered the overbought zone. The expansion of this level means that once the market falls sharply in the future, the magnitude will not be small.

The trend of the daily chart has not yet been destroyed, and it is possible to continue to rise. Referring to the increase of 180 US dollars after the start of the Russia-Ukraine war last year, this wave of gold may rise to 2010, which means that 1985 is not necessarily the final high.

Regardless of 1985 or 2010, there is not much room for this wave of uptrend, so now you have to go long cautiously, or wait for the trend to change before trading.

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The highest reached 1997, have you kept up?