Gold analysis today: 2640 key zone
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Gold analysis today: 2640 key zone
As shown:
In the four-hour cycle, the gold trend last week fluctuated upward along the black channel (as shown in the figure). Due to Thanksgiving, the US market was closed on Friday, resulting in no huge fluctuations in the market, and the repair shock within the channel was still maintained.
Because of Trump's firm attitude and negative remarks over the weekend,
the gold trend fell directly below the black channel on Monday this week (as shown in the figure)
5-minute level: fell to around 2623, rebounded to 2640 to test pressure
So today's focus on the price: Is the pressure around 2640 effective?
The upper pressure is obvious: 2640
One: Continue to continue the idea of shock: 2620-2640 range
Two: Short-selling idea: Take the pressure around 2640 as the pressure range, test and set a stop loss. Expected decline in the day: 2630-2620-2605
Specific strategy:
SELL: 2640-2635
SL: 2650-2648
TP1: 2630
TP2: 2620
TP3: 2605
Notes on short selling: Once it returns above 2640, it is likely to continue to run along the black rising channel, with a high of 2680-2700. Be sure to set a stop loss and control your position reasonably.
3: Long ideas: Take the 2600 range as the support range of the large-scale cycle, test and set stop loss, and the expected rise in the day: 2620-2630-2640-2680
Specific strategy:
BUY: 2605-2610
SL: 2590-2600
TP1: 2620
TP2: 2630
TP3: 2640-2680
Notes for long: Once it falls below 2600 and returns to the bearish trend, the maximum decline today is likely to be around 2540. So be sure to bring a stop loss and control the rationality of the position
The first news this week:
Trump hopes that the US dollar will continue to be the world's reserve currency
US President-elect: Trump reiterated his threat to impose a "100% tariff". Donald Trump warned that he would ask some countries to promise not to create a new currency to replace the use of the US dollar, and repeatedly threatened to impose a 100% tariff.
"The idea that some are trying to get rid of the dollar and we sit back and do nothing is over," Trump said in a post on his "TruthSocial" on Saturday.
"We are asking these countries to promise that they will not create a new market currency or support any other currency to replace the strong dollar, otherwise they will face a 100% tariff and should be prepared to say goodbye to selling goods to the wonderful American economy," he added.
Trump promised during his campaign that he would make countries pay a high price for abandoning the dollar.
He also threatened to use tariffs to ensure they comply.
Saturday's threat has taken on new meaning as the president-elect prepares to return to power in January next year.
Trump and his economic advisers have been discussing how to punish allies and adversaries who try to conduct bilateral trade in currencies other than the dollar. According to people familiar with the matter, these measures include considering export controls, trade tariffs and other options.
Trump has long stressed that he wants the dollar to remain the world's reserve currency. He told CNBC in a March interview that he "will not allow countries to abandon the dollar" because it would "deal a blow to our country."
Opposition to the dollar's dominance has intensified in 2022 as the United States led economic sanctions against Russia.
"It is impossible for any country to replace the dollar in international trade, and any country that tries to do so should wave goodbye to the United States," Trump said on Saturday.
The president-elect has already shocked world markets by threatening to impose 25% tariffs on all products from Mexico and Canada before the start of his second term if those countries do not do more to stop illegal drugs and undocumented immigrants from crossing the U.S. border.
Canadian Prime Minister Justin Trudeau met with Trump on Friday to discuss trade and border issues, trying to ease tensions between the two allies after the tariff threat.
News interpretation: bearish for gold
As shown:
In the four-hour cycle, the gold trend last week fluctuated upward along the black channel (as shown in the figure). Due to Thanksgiving, the US market was closed on Friday, resulting in no huge fluctuations in the market, and the repair shock within the channel was still maintained.
Because of Trump's firm attitude and negative remarks over the weekend,
the gold trend fell directly below the black channel on Monday this week (as shown in the figure)
5-minute level: fell to around 2623, rebounded to 2640 to test pressure
So today's focus on the price: Is the pressure around 2640 effective?
The upper pressure is obvious: 2640
One: Continue to continue the idea of shock: 2620-2640 range
Two: Short-selling idea: Take the pressure around 2640 as the pressure range, test and set a stop loss. Expected decline in the day: 2630-2620-2605
Specific strategy:
SELL: 2640-2635
SL: 2650-2648
TP1: 2630
TP2: 2620
TP3: 2605
Notes on short selling: Once it returns above 2640, it is likely to continue to run along the black rising channel, with a high of 2680-2700. Be sure to set a stop loss and control your position reasonably.
3: Long ideas: Take the 2600 range as the support range of the large-scale cycle, test and set stop loss, and the expected rise in the day: 2620-2630-2640-2680
Specific strategy:
BUY: 2605-2610
SL: 2590-2600
TP1: 2620
TP2: 2630
TP3: 2640-2680
Notes for long: Once it falls below 2600 and returns to the bearish trend, the maximum decline today is likely to be around 2540. So be sure to bring a stop loss and control the rationality of the position
The first news this week:
Trump hopes that the US dollar will continue to be the world's reserve currency
US President-elect: Trump reiterated his threat to impose a "100% tariff". Donald Trump warned that he would ask some countries to promise not to create a new currency to replace the use of the US dollar, and repeatedly threatened to impose a 100% tariff.
"The idea that some are trying to get rid of the dollar and we sit back and do nothing is over," Trump said in a post on his "TruthSocial" on Saturday.
"We are asking these countries to promise that they will not create a new market currency or support any other currency to replace the strong dollar, otherwise they will face a 100% tariff and should be prepared to say goodbye to selling goods to the wonderful American economy," he added.
Trump promised during his campaign that he would make countries pay a high price for abandoning the dollar.
He also threatened to use tariffs to ensure they comply.
Saturday's threat has taken on new meaning as the president-elect prepares to return to power in January next year.
Trump and his economic advisers have been discussing how to punish allies and adversaries who try to conduct bilateral trade in currencies other than the dollar. According to people familiar with the matter, these measures include considering export controls, trade tariffs and other options.
Trump has long stressed that he wants the dollar to remain the world's reserve currency. He told CNBC in a March interview that he "will not allow countries to abandon the dollar" because it would "deal a blow to our country."
Opposition to the dollar's dominance has intensified in 2022 as the United States led economic sanctions against Russia.
"It is impossible for any country to replace the dollar in international trade, and any country that tries to do so should wave goodbye to the United States," Trump said on Saturday.
The president-elect has already shocked world markets by threatening to impose 25% tariffs on all products from Mexico and Canada before the start of his second term if those countries do not do more to stop illegal drugs and undocumented immigrants from crossing the U.S. border.
Canadian Prime Minister Justin Trudeau met with Trump on Friday to discuss trade and border issues, trying to ease tensions between the two allies after the tariff threat.
News interpretation: bearish for gold
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🔼Professional analysis, registered gold analyst
🔼Long-term experience in gold, Bitcoin, oil and foreign exchange trading, daily market analysis
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