Bulls and bears compete for resistance at $2,163
The U.S. dollar rebounded 0.8% on Thursday after falling to a one-week low, causing gold to post a slight profit-making correction from highs. An unexpected rate cut by the Swiss National Bank on Thursday boosted global risk sentiment and underlined the dollar's appeal amid strong U.S. economic growth. In the global market, the United States remains the only option that offers higher yields (nominal and real yields) than other major economic regions. This allows the US dollar to maintain a strong performance in the foreign exchange market, and indirectly acts as a slight restraint for gold. Factors that hinder the ability to show off one's strength. However, for gold, what is more critical now is to see when the Federal Reserve cuts interest rates, and whether the frequency and magnitude of interest rate cuts are in line with market expectations.
Let’s look back at the main content of the Federal Reserve’s March interest rate meeting on Wednesday: The Fed’s statement after Wednesday’s interest rate meeting reiterated that it is waiting for increased confidence in inflation to fall, and deleted the wording about employment growth “slowing down” in the January statement; the dot plot remained A total of three interest rate cuts are expected this year, and Powell said it would be appropriate to implement a balance sheet reduction in the near future. The content of the March meeting has once again heated up market interest rate cut bets. Therefore, whether the Federal Reserve will cut interest rates as soon as possible is a long-term factor that affects the trend of gold. In the short term, we must guard against the risk of disturbance caused by high profit adjustments.
Gold prices did not continue to rise after rising to around $2,185 today. It falls quickly after encountering resistance. It has now fallen back to the important resistance level of $2,163. However, the current international situation and the Federal Reserve's policy do not support gold's continued sharp decline. Radicals can buy short positions and long positions in the $2163-2165 range. If the price falls below 2163 US dollars and rebounds to the 2160-2163 range, you can short the position, and the take-profit price can be set in the 2148-2150 US dollars range.
Let’s look back at the main content of the Federal Reserve’s March interest rate meeting on Wednesday: The Fed’s statement after Wednesday’s interest rate meeting reiterated that it is waiting for increased confidence in inflation to fall, and deleted the wording about employment growth “slowing down” in the January statement; the dot plot remained A total of three interest rate cuts are expected this year, and Powell said it would be appropriate to implement a balance sheet reduction in the near future. The content of the March meeting has once again heated up market interest rate cut bets. Therefore, whether the Federal Reserve will cut interest rates as soon as possible is a long-term factor that affects the trend of gold. In the short term, we must guard against the risk of disturbance caused by high profit adjustments.
Gold prices did not continue to rise after rising to around $2,185 today. It falls quickly after encountering resistance. It has now fallen back to the important resistance level of $2,163. However, the current international situation and the Federal Reserve's policy do not support gold's continued sharp decline. Radicals can buy short positions and long positions in the $2163-2165 range. If the price falls below 2163 US dollars and rebounds to the 2160-2163 range, you can short the position, and the take-profit price can be set in the 2148-2150 US dollars range.
Comment:
The price is currently rising, with a high probability of exceeding $2,185
Comment:
The price is currently rebounding and is expected to break through $2185
Comment:
Price falls below $2163, with next support range at $2146-2150
Price falls below $2163, with next support range at $2146-2150
Comment:
Gold fell below the $2,163 resistance level last Friday and quickly rose back above $2,163, but did not break above the $2,180 resistance level. Today it fell to around $2,163 and then rebounded upwards. The next step is to see whether the price can fall below the $2,163 resistance level again. If the price falls below $2,163 again, then the next support is in the $2,146-2,150 range. If the price cannot fall below $2163, the price will break through $2180 and continue the upward trend.
Gold fell below the $2,163 resistance level last Friday and quickly rose back above $2,163, but did not break above the $2,180 resistance level. Today it fell to around $2,163 and then rebounded upwards. The next step is to see whether the price can fall below the $2,163 resistance level again. If the price falls below $2,163 again, then the next support is in the $2,146-2,150 range. If the price cannot fall below $2163, the price will break through $2180 and continue the upward trend.
Comment:
The current price is firmly above $2,163. If it breaks through $2,180, the price will continue to rise.
The current price is firmly above $2,163. If it breaks through $2,180, the price will continue to rise.