Gold continued to be bullish in the morning, and the 3400 mark has been broken. How will it evolve next?
The US dollar index directly fell on Monday morning, and the US Y index fell by more than 8% this year, causing gold to rise in a variable. The rise in gold caused by this situation will be greatly adjusted due to the recovery of the US dollar! The key to winning or losing tonight lies between 20 and 22 o'clock.
If the US stock market opens, it will fall below the 98 mark due to the southward movement of the US dollar, creating a new low since April 2022! The market's trust in the US dollar as a global reserve currency has declined! The possibility of turning to other safe-haven assets has increased, thereby increasing the variable of gold rising.
If based on this logic, tonight's 20-23 o'clock cycle is the main winning or losing day of this week!
Hypothetical principle: If it is postponed to the north during the day, everyone should pay attention to the selling pressure near 3415. As the price changes, the selling pressure is more likely to occur! And the defense line will rise in each round of corrective retracement!
Short-term defense line: 3355-3370-3383-3392
Pressure level above: 3430-3458
Risk notice: 1. When everyone is paying attention, long positions may fall at any time, and the range will not be less than 50-80 points!
2. The decline of the US dollar index will lead to a collapse in futures, which will trigger a chain reaction. Traders will face the possibility of gold settlement to fill the gap in other markets!
The US dollar index directly fell on Monday morning, and the US Y index fell by more than 8% this year, causing gold to rise in a variable. The rise in gold caused by this situation will be greatly adjusted due to the recovery of the US dollar! The key to winning or losing tonight lies between 20 and 22 o'clock.
If the US stock market opens, it will fall below the 98 mark due to the southward movement of the US dollar, creating a new low since April 2022! The market's trust in the US dollar as a global reserve currency has declined! The possibility of turning to other safe-haven assets has increased, thereby increasing the variable of gold rising.
If based on this logic, tonight's 20-23 o'clock cycle is the main winning or losing day of this week!
Hypothetical principle: If it is postponed to the north during the day, everyone should pay attention to the selling pressure near 3415. As the price changes, the selling pressure is more likely to occur! And the defense line will rise in each round of corrective retracement!
Short-term defense line: 3355-3370-3383-3392
Pressure level above: 3430-3458
Risk notice: 1. When everyone is paying attention, long positions may fall at any time, and the range will not be less than 50-80 points!
2. The decline of the US dollar index will lead to a collapse in futures, which will trigger a chain reaction. Traders will face the possibility of gold settlement to fill the gap in other markets!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.