Złoto / Dolar USAZaktualizowano Gold today - can inflation data push prices above $2,700?
Gold today - can inflation data push prices above $2,700?
Technical:
Support and resistance
1: From a technical perspective, gold prices will face initial resistance around $2,690 after breaking through the $2,676-2,677 area, and may further test the $2,700 mark.
2: If prices can sustain above the above levels, it may lay the foundation for the continuation of the three-week upward trend, targeting the $2,716-2,717 resistance area, and even challenging the December monthly high of $2,726.
On the other hand:
1: The key support level for gold prices below is the $2,657-2,656 area (Monday's low). If it falls below this level, gold prices may face the risk of accelerating declines, targeting the $2,635 area.
2: If the downward trend continues further, gold prices may test the $2,610 level, which is the key support formed by the intersection of the 100-day moving average (EMA) and the rising trend line for several weeks.
Current Trend Analysis
1: Although gold prices are supported by the decline in US Treasury yields and the weakness of the US dollar, their upward momentum is limited, mainly suppressed by strong non-farm data and the Fed's cautious expectations of rate cuts.
2: The non-yielding asset attribute makes gold less attractive in a high-yield environment. In the short term, the trend of gold prices will be directly affected by the upcoming PPI and CPI data. If the inflation data is higher than expected, it may push up US Treasury yields and suppress gold prices; conversely, if the data is weak, it may push gold prices further higher.
Summary:
Gold prices are currently constrained by multiple fundamental and technical factors. The fluctuations of the US dollar and US Treasury yields have a crucial impact on the trend of gold prices, and the upcoming inflation data will provide further directional guidance for the market.
I will post my signals at the bottom of the article at the right time
If you are interested in my summary, you can leave me a message
I will answer them one by one.
Technical:
Support and resistance
1: From a technical perspective, gold prices will face initial resistance around $2,690 after breaking through the $2,676-2,677 area, and may further test the $2,700 mark.
2: If prices can sustain above the above levels, it may lay the foundation for the continuation of the three-week upward trend, targeting the $2,716-2,717 resistance area, and even challenging the December monthly high of $2,726.
On the other hand:
1: The key support level for gold prices below is the $2,657-2,656 area (Monday's low). If it falls below this level, gold prices may face the risk of accelerating declines, targeting the $2,635 area.
2: If the downward trend continues further, gold prices may test the $2,610 level, which is the key support formed by the intersection of the 100-day moving average (EMA) and the rising trend line for several weeks.
Current Trend Analysis
1: Although gold prices are supported by the decline in US Treasury yields and the weakness of the US dollar, their upward momentum is limited, mainly suppressed by strong non-farm data and the Fed's cautious expectations of rate cuts.
2: The non-yielding asset attribute makes gold less attractive in a high-yield environment. In the short term, the trend of gold prices will be directly affected by the upcoming PPI and CPI data. If the inflation data is higher than expected, it may push up US Treasury yields and suppress gold prices; conversely, if the data is weak, it may push gold prices further higher.
Summary:
Gold prices are currently constrained by multiple fundamental and technical factors. The fluctuations of the US dollar and US Treasury yields have a crucial impact on the trend of gold prices, and the upcoming inflation data will provide further directional guidance for the market.
I will post my signals at the bottom of the article at the right time
If you are interested in my summary, you can leave me a message
I will answer them one by one.
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Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.