Gold: Wait for the FED's Speech
Hello everyone! Today i want to share some macro analysis with you!
1.
Heavy news: At 18:00 MT4/5 time, Federal Reserve Chairman Jerome Powell delivered his semi-annual monetary policy testimony before the House Financial Services Committee.
Technical: Yesterday gold "jumped up and down"! In the 2350 position 4 bottom support, gold bottomed out and rebounded, continue to maintain high upward momentum! The current offer 2373 near! Once again break through 2368 key resistance! Two consecutive days of wide oscillation, perhaps the rhythm before the storm! The upcoming U.S. market, but also the market is the most cranky moment! Above the short-term focus on 2380-87 resistance, below the short-term focus on 2370-2368 support, trading sell orders!
2.
$XAU/USD(XAUUSD.FOREX)$ touched 2387 and began to fall, in line with the expected trend, sell orders continue to take profits, pay attention to the previous important support location, 2368-70
3.
$Gold - main 2408(GCmain)$ TRADING ALERT: Powell Maintains Cautious Language, Gold Prices Stymied Higher as Markets Await Dueling U.S. CPIs! Focus now turns to the U.S. Consumer Price Index (CPI) data due out on Thursday and the Producer Price Index (PPI) report due out on Friday, with the most recent data suggesting that inflation has cooled down somewhat from the surprisingly highs seen at the start of the year.
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