XAUUSD: 15/8 Trading Strategy of the DayOn Tuesday (August 15th), the U.S. dollar index stood strongly above the 103 mark. Spot gold fell to a low of $1,902.46 overnight, dragged down by higher U.S. dollar and U.S. Treasury yields, its lowest level since July 7. The dollar climbed to its highest level in more than a month on worries about the Asian economy, making dollar-denominated gold more expensive for overseas buyers, while the benchmark 10-year U.S. Treasury yield held above 4%. This week, the Federal Reserve will release the minutes of its July meeting, which may reveal the willingness to raise interest rates. The Fed's decision in July was in line with expectations, raising interest rates by 25 basis points as scheduled. Federal Reserve Governor Bowman said that the Fed may need to raise interest rates further to suppress inflation and fully restore price stability. He supported the decision to raise interest rates at the Fed meeting last month and expressed a more hawkish view. The annual rate of U.S. CPI without seasonal adjustment in July recorded 3.2%, ending 12 consecutive months of decline, but lower than the expected 3.3%; the annual rate of core CPI without seasonal adjustment in July recorded 4.7%, the lowest since October 2021. Tonight, we will focus on the monthly retail sales rate in July in the United States, which is known as "horrible data", which is expected to have a big impact on the market.
Gold yesterday fluctuated and closed down on the small negative line, continuing its weak downward trend. The highest was 1916, and the lowest was close to the 1900 mark. Although it did not break below, it still closed at a low level after rebounding in late trading. It is expected to fall below the 1900 integer mark today, maintaining a small step weakness fall. The daily line follows the short-term moving average and goes down weakly. Below, pay attention to the conversion near the 1893 low. Whether it is a weak position directly breaking the position, or holding on to the circuitous shock at this position, there may be repetitions in the short term. The analysis given yesterday is to do more at 1903-06. Those who pay attention to me believe that they can also grasp the profit. The current trend is consistent with my analysis, so we can keep it down in operation. Today, we mainly focus on whether the 1900 mark below can be smooth broken position. Gold weakened at the opening today, unlike last week. Last week, it was a white market rebound, and the European and American markets fell. The rhythm has changed but the trend is the same, so there is no problem in staying bearish. Today's suppression level has moved down to around 1915. The lower support level depends on the strength of the decline. There is a high probability that 1900 will not be able to bear it. If it has not broken through 1900 many times, we can go long around 1902.
Gold operation strategy:
SELL:1910-1913
TP1:1907
TP2:1902
BUY:1900-1903
TP1:1907
TP2:1913
