Yesterday, Federal Reserve Bank (FED) ** Bernanke said yesterday (March 21) that the US dollar has remained stable against other currencies in the past few years and that this trend will continue in recent years. The task of the Fed meeting will help ensure a strong dollar, and the Fedâ€™s policy does not harm the value of the dollar. With economic growth, interest rates will rise and the U.S. dollar will respond to changes in interest rates.
Bernanke's speech did not mention QE3 in the most recent month's speech, triggering a serious setback in the gold market, while China's GDP data fell, economic expansion slowed down, and commodities were all adjusting back. In the recent five-day trend, the price of gold fluctuates in a small range. Investors are not interested in this. If it had been hunted down for a long time before, the hedged tycoon hasnâ€™t moved in the near future. Instead, the market speculates on buying the Central Bank. In addition, the international gold price has not risen since entering, and the market has a strong wait-and-see mood.
Yesterday the gold price oscillated repeatedly with 1660-1647, with a volatility of 13 yuan, indicating that the market was in light of cautious anxieties before the market had a clear direction. In the current lack of news, the anxieties of the US dollar and the withdrawal of the Fedâ€™s QE3 plan made the market lose its direction as soon as it lost its message.
The gold price thus repeatedly competed with 1650,1640-1647 as a long-traded dense area with strong support. Above the 1660 is a short pressure zone. The long and short sides compete for the interval of 1660-1647, and the 1650 can be found at the end of a pennant. If the price of gold is always under the weakness of the 1650 pennant, it will run in the direction of 1640 and 1615. On the contrary, it will stabilize and move above 1650, and it will move in the direction of 1670 and 1687.
Judging from the 4-hour rhythm, this trend is not very weak. Yinxian but not overcast, and our system indicators have been shown in the bull market, and the indicators are very slow. This represents the correction of the market in the bulls. We are not in a hurry to arrange empty orders, and other forms are further clarified.
Regarding the price of gold, it will not be possible to start watching this trend during the day. We will continue to focus on the 60 line at the top. We need to pay attention to the rhythm of the price of gold in the day to judge the overall market trend.
June 04, 2019
The highest international gold price yesterday was 1661 U.S. dollars, the lowest was 1647 U.S. dollars, and it closed at 1649 U.S. dollars. After the dollar finished high, the international gold price received the cross star line, and there was no obvious direction in terms of technical judgment.