Gold falls cautiously below 1990 mark
Updated
——Powell's super-"hawk" interest rate hike attitude is shrouded, and the gold 1990 mark is in jeopardy——
At noon in the Asian market on Thursday (June 29), gold shorts approached $1,900, and Federal Reserve Chairman Powell reaffirmed his super-hawkish stance.
The analysis pointed out that gold is no longer a good hedging tool against economic difficulties and has become another cyclical economic asset because it is linked to low interest rates and global economic growth. Powell once again emphasized that it is expected to raise interest rates two or more times before the end of the year, stimulating the US dollar index to stand strongly at 103.20, and the pricing of resuming interest rate hikes in July set off a wave again.
The Fed continues to suppress gold prices: Powell "falcons" again: it may be necessary to raise interest rates at least twice. Federal Reserve Chairman Jerome Powell spoke at the "Fourth Financial Stability Conference" hosted by the Bank of Spain in Madrid, Spain on Thursday. Powell said at least two more rate hikes will likely be needed this year to bring inflation down to the Fed's 2% target. Powell said on Thursday that a large majority of committee members expected two or more rate hikes by the end of the year to be appropriate. He was referring to the Federal Open Market Committee (FOMC), which sets policy.
——Gold technical analysis, how to operate in the US market?——
Gold Looking at the daily line, gold has slipped further below the 20-day simple moving average (SMA) and the 100-day SMA, which are currently converging at 1943.40. Meanwhile, technical indicators are moving down in negative territory, approaching oversold readings, with no sign of the downside drying up. Looking at gold from the 4-hour line, the risk of gold price tends to go down. Gold prices are well below the bearish moving average, with the 20-period SMA acting as dynamic resistance at 1920.80. Additionally, technical indicators remain in negative territory, with the Momentum Index consolidating and the Relative Strength Index (RSI) rebounding modestly, but currently in the mid-40s.
In the gold operation in the evening, I still recommend rebounding and shorting!
US market gold operation strategy:
Empty order strategy: It is recommended to go short at 1908-1910, stop loss at 1917, and target around 1890
At noon in the Asian market on Thursday (June 29), gold shorts approached $1,900, and Federal Reserve Chairman Powell reaffirmed his super-hawkish stance.
The analysis pointed out that gold is no longer a good hedging tool against economic difficulties and has become another cyclical economic asset because it is linked to low interest rates and global economic growth. Powell once again emphasized that it is expected to raise interest rates two or more times before the end of the year, stimulating the US dollar index to stand strongly at 103.20, and the pricing of resuming interest rate hikes in July set off a wave again.
The Fed continues to suppress gold prices: Powell "falcons" again: it may be necessary to raise interest rates at least twice. Federal Reserve Chairman Jerome Powell spoke at the "Fourth Financial Stability Conference" hosted by the Bank of Spain in Madrid, Spain on Thursday. Powell said at least two more rate hikes will likely be needed this year to bring inflation down to the Fed's 2% target. Powell said on Thursday that a large majority of committee members expected two or more rate hikes by the end of the year to be appropriate. He was referring to the Federal Open Market Committee (FOMC), which sets policy.
——Gold technical analysis, how to operate in the US market?——
Gold Looking at the daily line, gold has slipped further below the 20-day simple moving average (SMA) and the 100-day SMA, which are currently converging at 1943.40. Meanwhile, technical indicators are moving down in negative territory, approaching oversold readings, with no sign of the downside drying up. Looking at gold from the 4-hour line, the risk of gold price tends to go down. Gold prices are well below the bearish moving average, with the 20-period SMA acting as dynamic resistance at 1920.80. Additionally, technical indicators remain in negative territory, with the Momentum Index consolidating and the Relative Strength Index (RSI) rebounding modestly, but currently in the mid-40s.
In the gold operation in the evening, I still recommend rebounding and shorting!
US market gold operation strategy:
Empty order strategy: It is recommended to go short at 1908-1910, stop loss at 1917, and target around 1890
Trade active
Since last week, I have told everyone that gold will inevitably decline in the next period of time.However, some friends want to do some multi-order transactions, just to enjoy the small profits brought by multi-order transactions. When it starts to rain, it is too late for you to repair the roof, but you have to do it when the sun is shining , Just like when there is a turmoil, you don’t take any precautions. When the unilateral really comes, you will not be given a chance at all. The market is to catch fish when it is turbulent, and close the net when it is unilateral. Who will become the fish in the net? , as one can imagine.
I, Pete, only speak with strength, everyone is welcome to come and verify my strength, if my professional trading can't make you money! Then I want to say that there are not many people in this market who can make you money
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