Today's operational recommendations:
Wait and see, look for low-level layout .
Yesterday mentioned 1422, 1417 these two support positions, have now fallen below, currently observe the 1410, 1401 these two price points.It is not recommended to make a high position because there are too many fundamental information in the near future to support the gold bullish trend.
Fundamental analysis:
1. The new Prime Minister of the United Kingdom will be announced today (currently the British voice is very large, thousands of people are demonstrating on the streets of London, and several executives including the finance minister "Hammond" claim that if "Johnson" takes office, he will resign)
2. British tankers were detained by Iran in the Strait of Hormuz (Iran ignored the British warship warning, the geopolitical situation is heating up)
3.Uncertainty in international trade war
4.US debt problem
5. Central banks to implement monetary easing policy, paying attention to the ECB’s interest rate decision on the 25th of this month and the Fed’s interest rate decision on the 31st of this month.
At present, from a technical point of view, it is relatively bad to enter. It has already gone out of the head and shoulders. At present, only the tentative support positions can be observed: 1410,1401. Short-term profit price can be observed around 1423.
*Currently small lot size trading is recommended for the meantime, traders could consider increasing trading volumes once there are clearer signs of the bottom consolidating, these will reduce any potential risks.
* Note: The above analysis is personal opinion and for reference only.
Wait and see, look for low-level layout .
Yesterday mentioned 1422, 1417 these two support positions, have now fallen below, currently observe the 1410, 1401 these two price points.It is not recommended to make a high position because there are too many fundamental information in the near future to support the gold bullish trend.
Fundamental analysis:
1. The new Prime Minister of the United Kingdom will be announced today (currently the British voice is very large, thousands of people are demonstrating on the streets of London, and several executives including the finance minister "Hammond" claim that if "Johnson" takes office, he will resign)
2. British tankers were detained by Iran in the Strait of Hormuz (Iran ignored the British warship warning, the geopolitical situation is heating up)
3.Uncertainty in international trade war
4.US debt problem
5. Central banks to implement monetary easing policy, paying attention to the ECB’s interest rate decision on the 25th of this month and the Fed’s interest rate decision on the 31st of this month.
At present, from a technical point of view, it is relatively bad to enter. It has already gone out of the head and shoulders. At present, only the tentative support positions can be observed: 1410,1401. Short-term profit price can be observed around 1423.
*Currently small lot size trading is recommended for the meantime, traders could consider increasing trading volumes once there are clearer signs of the bottom consolidating, these will reduce any potential risks.
* Note: The above analysis is personal opinion and for reference only.