Xauusd:How much more can it rise?
Updated
Data released by the U.S. Department of Commerce on Monday showed that the total number of new home sales in the United States fell by 5.6% to 679,000 units in October.This growth rate was lower than all the expectations of the industry media in the survey of economists.
Another data released later also performed poorly: the Dallas Fed business activity index in the United States recorded -19.9 in November, with an expected -16 and a previous value of -19.2.This is the third consecutive month that the index has declined, and it is also the 19th consecutive month that it has been in a state of contraction.
The two data are not enough to be too convincing. In the next few days of this week, we will continue to usher in a number of economic data: Wednesday's GDP report, Thursday's core personal consumption expenditures (PCE) price index and personal expenditures, and Friday's November ISM manufacturing PMI, etc. , One is more important than the other, if we can continue to verify the current market view, it will cause a deeper crackdown on the US dollar.
As can be seen from the chart, gold is still in an upward trend
From a technical point of view, gold at the weekly and daily levels is in an upward pattern, and there is no top pattern for the time being.
So we can still buy at the support level today, observing the support range of 2005-2008 yesterday and the support range of 2000-2002 when the market opens on Monday.
If gold breaks through 2018 today, then the resistance range of 2022-2028 can be observed
If you don't know how to trade, join me and let us learn together to improve the success rate
Trade active
Trade active
Still an upward trendTrade active
As I predicted, it rose again today without breaking through the resistance range.Trade active
Same as I predictedTrade active
Note
Gold is crazy, but if it rises rapidly, it will definitely fall in the endTrade active
Trade active
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.