Analysis of the Trend of Foreign Exchange Gold and Crude Oil on November 22nd
After a slight rebound yesterday, the euro continued to decline, expanding its decline under the pressure of negative factors during the trading day. The daily closing was marked by a large bearish candlestick with upper and lower shadows. From the close, bearish momentum continued to strengthen. Combined with the 4H trend, the Bollinger Bands turned downwards, and the MACD zero axis was running below. The main resistance above the day was 1.0505, the second resistance was 1.0550, and the support below was 1.0420, 1.0360-70. It is expected to test the first support in the short term below the first resistance.
After the opening of the Asian market yesterday, the pound fluctuated downwards and fell back to near the first support in the closing session, easing the downward trend. The daily chart closed with a bearish candlestick in the upper and lower shadow lines, and the bears continued to dominate. From the 4H perspective, the Bollinger Bands are below the middle limit, and the MACD zero axis is running below. The main resistance above the day is 1.2625, the second resistance is 1.2670-80, and the lower support is 1.2530, 1.2465. The first resistance is expected to test the first support in the short term before it recovers.
After a slight adjustment by the US and Japan yesterday, they encountered resistance and fell back. During the New York session, they touched the second support and rebounded slightly. The daily chart closed at the lower shadow with a bearish candlestick. Overall, the short-term trend is still in a long short oscillation pattern. From a 4H perspective, the Bollinger Bands have slightly flattened, and the MACD is running near the zero axis. The top resistance is 154.85, the second resistance is 155.35, and the bottom support is 153.90153.40-50. It is expected that the short-term trend will retest the first support below the first resistance.
XAUUSD
Gold rebounded to the first support yesterday and continued to rise, expanding its gains under the boost of positive factors during the trading day. The daily chart closed at the upper shadow of the bullish candlestick line. From the closing, it is currently close to the daily Bollinger Bands test, and can only continue after recovery. Combined with the 4H chart, the Bollinger Bands are above the zero axis of MACD, with the main support at 2669-70, the second support at 2662, and the upper resistance at 2686-882697-99. The first support is expected to test the first resistance in the short term before it falls.
After a slight pullback yesterday, crude oil rebounded and continued to reach a new intraday high at the close. The daily chart closed at the upper and lower shadow lines with a bullish candlestick. Currently, the area above is close to the previous intensive pressure zone, and the rebound can only continue after recovery. From a 4H perspective, the Bollinger Bands are above the middle limit, and the MACD zero axis is running above it. The main support for the day is 69.30-40, the second support is 68.70, and the upper resistance is 71.00, 71.80-90. It is expected to test the first resistance in the short term above the first support
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