GOLD-Advice and Strategies
Updated
Focus on data this week
On Monday, the New York Fed’s 1-year inflation forecast for February
On Tuesday, the U.S. February NFIB small business confidence index, CPI data, and OPEC released its monthly crude oil market report
On Wednesday, U.S. EIA crude oil inventories for the week, IEA released monthly crude oil market report
Thursday, US February retail sales monthly rate, US February PPI data
On Friday, the U.S. New York Fed manufacturing index in March, import price index monthly rate, industrial output monthly rate, one-year inflation rate expectations
U.S. job growth accelerated in February, but the unemployment rate rose and wage growth slowed. Non-agricultural employment increased by 275,000 in February, and the unemployment rate rose to 3.9% in February after remaining at 3.7% for three consecutive months. This is generally negative for the US dollar and bullish for gold, causing the US dollar to continue to fall, and gold to rise again to a new high. point. Gold's surge is due to three factors: geopolitical conflicts, the Federal Reserve's interest rate decision, and the increase in gold holdings by central banks.
From the technical indicators of gold, we can see that the RSI is overbought from the weekly level to the hourly level, and the rising momentum of 1H and 4H MACD is attenuated.
It can currently be seen that the important support range for gold is strongly supported at 2155-2165.
I suggest that you can sell in the resistance range, or buy in the support range, reasonably control the position according to your own funds, and set SL. There is no important data released today, or you can wait for the trend to be obvious before trading with the trend.
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Note
The current fluctuations are very smallNote
Very little volatility today, waiting for gold to choose directionNote
Tomorrow I will continue to analyze the trend of gold, follow me
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