Macro Analysis for Gold
Hello everyone! Today i want to share some macro analysis with you!
1.
$XAU/USD(XAUUSD.FOREX)$ $Gold - main 2408(GCmain)$ XAUUSD technical: the current gold continues to maintain the trend of shock! H4 trend, gold began to rebound after falling to 2286 near, and then rushed to 2341 near the fall, approaching the 2295 mark, and then rebounded to 2336 near, and fell back again, it is not difficult to see the rebound of the highs are getting lower and lower, the overall trend of the bias of the shock to the downside, the current price of gold is running in the middle of Bollinger bands near the KDJ dead fork downward divergence running, the MACD DIF line above the DEA line bonded together and the red energy column shrinkage is still short-term trend of short. After the dead fork downward dispersion run, MACD DIF line in the DEA line above the bond together, and the red energy column shrinkage, the short-term trend is still short.
H1 trend: is a triangle finishing pattern, the oscillation range is getting smaller and smaller, the change is imminent. Be sure to grasp the big market after the disc change, gold in the June 7 plunge, although there is a rebound but the amplitude is not large so difficult to become a climate, can only be seen as an adjustment, is expected to adjust the end of the downward trend will continue to go down, and the current number of Federal Reserve officials to adhere to the expectations of the year only one interest rate cuts, which is also bearish for the gold. Intraday focus on 2335-38 near multi-layer resistance! Bottom focus on 2322 near support, trading on the sell-single trading mainly (due to the reasons of the U.S. holiday, today's gold market will be closed early, pay attention to risk control)
2.
XAUUSD continues to maintain a wide range of oscillation, never able to break 2335-38 resistance, still in the triangle finishing stage! Sell orders continue to take profit phase, continue to focus on 2322 support, a break below will reach near 2310!
3.
Gold maintains a tendency to oscillate back up, the market trend is still at risk of falling!
Last trading day Wednesday (June 19): international gold / London gold narrow oscillation cross closed down, although the overall tendency to move up, but also running below the 60-day average, the short-term trend is still to shock fluctuations.
Specific trend, the gold price since the Asian market opened at 2329.27 U.S. dollars, the overall maintenance of the range within the 10 U.S. dollars of lateral oscillation fluctuations, in the European session at the beginning of the 16 o'clock period recorded the high point of 2334.95 U.S. dollars, also in the United States at the beginning of the 22 o'clock period recorded the low point of 2323.95 U.S. dollars, and finally closed at 2328.78 U.S. dollars, the daily amplitude of 11 U.S. dollars, closed down 0.49 U.S. dollars, down 0.02 per cent. Impact, due to the U.S. holiday, the market is light, although the European early data and U.S. early data favourable gold prices out of the rebound, but the strength is limited, the former favourable rebound touched the intraday high, the latter bottomed out, still in the intraday shock range, the U.S. dollar index and U.S. bond yields performance fell, did not have to boost the gold price, and its Tuesday, the Federal Reserve's many officials said that there is no urgency to cut interest rates is still suppressing the price of gold, and thus ultimately maintain the pressure performance shock. Therefore, the final maintenance of pressure performance shock closed down.
4.
Today Thursday (June 20): gold continued to open first to maintain a narrow range of pressure fluctuations, the U.S. dollar index daily chart short-term trend is still inclined to weaken, but the weekly chart trend is maintaining a certain bullish outlook, and is in the uptrend channel, which will limit the price of gold long, and bearish pressure on it.
Although the U.S. bond 10-year yield daily chart still maintains a downtrend, the trend continues to bias bearish lower, the weekly chart trend in the mid-rail and short-term averages below the accompanying indicators MACD to maintain the development of bearish signals, is also in the bearish lower expectations, will support the gold price. But the U.S. stock market, such as the Dow Jones index, the daily chart tends to rebound, the weekly chart to maintain the high level of consolidation, the monthly chart is a larger bullish outlook will also limit the gold price rebound, and its bearish pressure, therefore, the gold price after the market bias shock, the probability of going lower again is still very large.
Intraday will focus on the United Kingdom to June 20 central bank interest rate decision, the United States to June 15 when the number of initial jobless claims (10,000 people), the United States in May the total number of new housing starts annualised (10,000), the United States first quarter current account ($ billion), the United States in May the total number of permits to build (10,000), the United States in June Philadelphia Federal Reserve Manufacturing Index, etc., the market overall expectations are biased in favour of the short gold prices, so the gold price bias today is to oscillation or High empty mainly.
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