XAUUSD: 18/3 Today’s Gold Trading Strategy
Data last week showed that U.S. consumer prices rose more than expected in February, and producer prices also showed a certain degree of inflationary stickiness. Traders have reduced their bets on an interest rate cut in June. Gold prices fell more than 0.8% last week.
Spot gold has already priced in the positive push from expectations of lower interest rates. If inflation starts moving higher again, it means policymakers will have to keep monetary policy tighter for longer. Although gold does not particularly like high interest rate environments, if the reason for interest rates remaining so high is overheating inflation this naturally means that people will turn to international gold again. Higher-than-expected inflation continues to put pressure on the Federal Reserve to keep interest rates high, putting pressure on gold prices. The non-yielding precious metal is also used as a hedge against inflation.
Central banks will be in focus this week. The Bank of Japan and the Reserve Bank of Australia will announce interest rate decisions on Tuesday, the Federal Reserve will announce interest rate decisions on Wednesday, and the Bank of England and the Swiss National Bank will announce interest rate decisions on Thursday. The market will also focus on Tuesday's U.S. housing starts and building permits, as well as Thursday's weekly jobless claims, Philadelphia Fed manufacturing survey, PMI preview data and existing home sales.
Gold technical analysis:
Daily resistance is 2184, support below is 2124-00
4H resistance is 2158, support below is 2124-00
Gold operation suggestions:
Judging from the daily and four-hour analysis, today's short-term strong short-term strong dividing line is around 2158. Short-term pressure will focus on around 2158. The focus below will be on the daily level support of 2124 and today's low near 2145.
BUY:2140-2145
BUY:2120-2125
Spot gold has already priced in the positive push from expectations of lower interest rates. If inflation starts moving higher again, it means policymakers will have to keep monetary policy tighter for longer. Although gold does not particularly like high interest rate environments, if the reason for interest rates remaining so high is overheating inflation this naturally means that people will turn to international gold again. Higher-than-expected inflation continues to put pressure on the Federal Reserve to keep interest rates high, putting pressure on gold prices. The non-yielding precious metal is also used as a hedge against inflation.
Central banks will be in focus this week. The Bank of Japan and the Reserve Bank of Australia will announce interest rate decisions on Tuesday, the Federal Reserve will announce interest rate decisions on Wednesday, and the Bank of England and the Swiss National Bank will announce interest rate decisions on Thursday. The market will also focus on Tuesday's U.S. housing starts and building permits, as well as Thursday's weekly jobless claims, Philadelphia Fed manufacturing survey, PMI preview data and existing home sales.
Gold technical analysis:
Daily resistance is 2184, support below is 2124-00
4H resistance is 2158, support below is 2124-00
Gold operation suggestions:
Judging from the daily and four-hour analysis, today's short-term strong short-term strong dividing line is around 2158. Short-term pressure will focus on around 2158. The focus below will be on the daily level support of 2124 and today's low near 2145.
BUY:2140-2145
BUY:2120-2125
Handel aktiv:
This is a super interest rate week, and the risks are higher than ever.Central banks will be in focus this week. The Bank of Japan and the Reserve Bank of Australia will announce interest rate decisions on Tuesday, the Federal Reserve will announce interest rate decisions on Wednesday, and the Bank of England and the Swiss National Bank will announce interest rate decisions on Thursday.
Handel aktiv:
continue to sell
Handel aktiv:
SELL2163 profits are still growing
Handel aktiv
Handel aktiv:
Reached 2154.5, selling again for profit of 40pips
Handel aktiv
Handel aktiv
Handel aktiv:
The interest rate decision is settled! Powell once again uncharacteristically hinted at three interest rate cuts this year, and gold bulls reveled!
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