fundamentals
The US manufacturing PMI data performed poorly overnight, and the yields of US dollar and US bonds fell to a low of more than a week, providing rising momentum for gold prices. Although the short-term increase is too large, and some short-term bulls have taken profits at the 1700 mark. Currently, the gold price has fallen back to around 1698, the technical bullish signal has been significantly enhanced, and the geopolitical situation in Russia and Ukraine is still tense. The market's expectations for the non-agricultural data to be released this week are not optimistic, and gold prices still have a chance to rise further.
However, there are still many Federal officials speaking on this trading day, which is likely to strengthen further interest rate hikes , which may suppress gold prices in the short term. In addition, we need to pay attention to the speeches of ECB officials, the monthly rate of factory orders in the United States in August, and the data on job openings in the United States in August; pay attention to the RBA interest rate resolution, the correction of the monthly rate of durable goods orders in the United States in August and the geopolitical situation.
Gold Analysis
From the daily line level, the first increase of the daily line after three consecutive positive trends was very large, directly breaking through the Bollinger middle track and the 30-day moving average. There is only 1730 upper Bollinger upper track suppressed. Therefore, at present, the daily line range can only be viewed at this point. If the middle point is given by the market, you can refer to it. If the market does not give it, you won’t guess.
There are two changes in the four-hour level compared to Monday. First, with the rise of gold, the upper Bollinger track of the four-hour cycle is opened. The opening of this cycle often has several trading days continuity. Therefore, keep bullish in front of the data. The second, the 5 and 10-day moving averages of the four-hour cycle form a standard unilateral trend, with the support point at 1685. Therefore, gold is bullish in the day and needs to be above 1685. For the intraday market, the Asian session temporarily fell slightly below 1700. After the decline, it was bullish at the confirmation support point. The rise is expected to be in the European and American session period.
In general: Gold big positive line , longs usher in counterattack, in operation, consider retracement layout as the main, long positions are mainly, high altitude is supplemented, pay attention to 1715-1730 above, and 1685-1676 support below;
gold operation suggestions
Long positions: see 1686-1687 first line to go long, stop loss is placed at 1679, target point 1702-170 7 areas;
Low order: For the first time above, short selling at 1715-1716, stop loss is placed at 1723, and the target point is 1700-1695;
I have been deeply engaged in the gold market for more than ten years, and have analyzed varieties such as gold and silver, crude oil, foreign exchange, etc., combined with the market news, we analyze changes in market sentiment, with short-term and medium-term and long-term as supplements; with the monthly cycle. My full-range time: 7:00 am to 2:00 am. The content of the article is for reference only. The specific intraday trading shall prevail. Investment is risky, so please do a good job of risk control.
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