Macro Analysis for Gold!
Hello everyone! Today i want to share some macro analysis with you!
1.
$Gold - main 2408(GCmain)$ $XAU/USD(XAUUSD.FOREX)$ Gold maintains its oscillating and contracting move, retaining the view that it has topped out and retreated!
Last trading day on Monday (24 June): gold / London gold to stop the decline rebound to close the sun, but still in the averages below the resistance, the fundamentals are also a lack of sustained positive factors, so the market trend is still the risk of going lower again.
Specific trend, the gold price since the Asian market opened at 2321.77 U.S. dollars / ounce, first recorded an intraday low of 2317.56 U.S. dollars, after that is to maintain the development of the trend of oscillating upward, and continued to the end of the European session recorded an intraday high of 2334.43 U.S. dollars, and ultimately closed at 2334.13 U.S. dollars, the daily amplitude of 16.87 U.S. dollars, closing up 12.36 U.S. dollars, an increase of 0.53%.
Influence, by the end of last week's bottoming out to stop the decline in power, as well as back after the profit-taking, and back up performance, at the same time, market analysis that the Japanese official or has been in the exchange rate check. The dollar index and U.S. bond yields fell back to close lower during the day, boosting gold prices to hold steady back up, and eventually closed positive.
2.
Outlook today Tuesday (June 25): gold opening rebound power slowed down, first under pressure to run weak, on the one hand, by the impact of technical resistance, on the other hand, the bulls rebound failed to return to the top of the 60-day moving average, buying demand abatement.
Technical: XAUUSD yesterday a small rebound, the highest touch near 2334.5, followed by pressure retracement, the weekend my tweets have emphasised, 2337-40 strong resistance, and did not effectively break through, 2334 sell order strategy, is still in the profit phase! Asian and European markets need to focus on 2318 gain or loss! 4H trend, rising momentum exhausted, the short-term trend in favour of gold down, there is still room for retracement within the day, trading on the sell-single transaction-based, gold rebound near 2330 continue to enter the sell-single, TP:2315-2310-2305 SL:2338-2340 (according to the personal habits of the set SL)
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