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Trading Strategy
Radicals. Go long. The stop loss target is close to the five-week low, while spot gold rebounded strongly from the morning low by a few points to reach the highest point in the US market. Although the annual rate of increase in the core price index is still lower than the Fed's .% target, it is still in line with the expected value and the previous value, indicating that U.S. inflation pressure remains stable. However, Lao Xie Alchemy analyzed that in order for the Federal Reserve to continue to raise interest rates once or twice this year, the data needs to continue to improve, and other data also need to be better, so that the Federal Reserve, which has always emphasized that the timing of interest rate hikes depends on economic data, can make up its mind. rate hike. The U.S. economic data is not ideal and the European Central Bank is less willing to cut interest rates. There seems to be no reason for gold to fall in the short term. However, whether gold can continue to rise still requires the cooperation of U.S. economic data, especially Friday's non-farm payrolls data.
The data also showed that the monthly rate of personal expenditures in the United States increased by .%, which was better than market expectations, which was expected to rise by .%, and the monthly rate of personal income increased by .%, which was expected to rise by .%. Consumer spending accounts for more than two-thirds of economic activity in the United States, so it will have a greater impact on statistics. In the second quarter data last week, the annual rate of consumer spending was .%, accounting for most of the growth rate of .%. Although in the second quarter, The strong performance may not be sustainable, but economists believe wages and employment will help personal spending remain solid.
Spot gold rose as a whole yesterday. After falling slightly from around 100% in early trading, it began to rebound. Given that yesterday was the second trading day of this week, I believe that most investors in the market, like Lao Xie Lianjin, believe that the market situation It would be good if it rebounded to a nearby level at most, and this point was also the point where we chose to place a short order yesterday. Unfortunately, the market did not stop here, but continued to break upward, and our short order was also stopped. Afterwards, the market continued to rise and hit the highest level during the U.S. trading session, just one step away from the mark. The main suppression of the current market is still in the early high range. If there can be a breakthrough and stand firm this week, it will be just around the corner. But Lao Xie has always suggested that the crazier the market, the more rational we should be. Judging from the current morning opening, the market has fallen from yesterday's high. In the short term, it may be tested near the bottom. But from the daily line, the bottom The more solid support lies on the first line. This point is also the multi-order point that we can focus on during the day. The short-term resistance above is the range. We can still try short orders in this range. Once the top breaks through the vicinity, it may mean a greater risk. The rising market is coming, so we can no longer go short against the trend in operation. We can wait for the market to fall back and then take advantage of the trend to enter long orders
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