Analysis of the Trend of Foreign Exchange Gold and Crude Oil on December 4th
The euro rebounded yesterday and fell under pressure near the first resistance, but the space below was limited. The daily closing line showed a small bullish candlestick with upper and lower shadows. From the close, the short-term trend is still in a volatile pattern. Combined with the 4H trend, the upper and lower Bollinger Bands have slightly narrowed, and the MACD is running near the zero axis. The main support for the day is 1.0465, the second support is 1.0400, and the upper resistance is 1.0545, 1.0590. It is expected that the short-term trend will retest the first resistance above the first support.
After the opening of the Asian market yesterday, the pound rebounded and hit the second resistance level, rising and falling below it during the trading session. The daily close was at the upper and lower shadow lines, with a small bullish candlestick. The daily Bollinger Bands still constitute the primary resistance for the upward movement, and the rebound can only continue after recovery. From a 4H perspective, the Bollinger Bands have slightly turned around and are running near the MACD zero axis. The main support for the day is 1.2640, the second support is 1.2600, and the upper resistance is 1.2725 and 1.2770. The first support is expected to test the first resistance in the short term before it falls.
The USD/JPY hit near the first resistance and fell under pressure yesterday. During the New York session, it fell back to the second support and rebounded. The daily chart closed at a cross star line, and currently it is adjacent to the front low dense support area below. Before falling, it is cautious to chase short. From the 4H perspective, the upper and lower Bollinger Bands have narrowed, and the MACD zero axis is running below. The top resistance of the day is 150.45, the second resistance is 151.00, and the bottom support is 149.30148.80. It is expected that the short term will retest the first support below the first resistance.
XAUUSD
Gold rebounded after a slight adjustment yesterday, hitting the second resistance and falling under pressure during trading. The daily close was marked by a small bullish line with upper and lower shadows. From the close, the short-term long short competition has not yet ended, and the short-term cautious pursuit of gains and losses. Combined with the 4H trend, the Bollinger Bands have slightly flattened, and the MACD zero axis is running close. The main support for the day is 2633-34, the second support is 2627, and the upper resistance is 2649-502656-57. The first support is expected to test the first resistance in the short term before it falls.
Crude oil rebounded after the Asian market opened yesterday and continued to reach a new high for the day until the close. The daily line closed at a medium positive line. Currently, the upper part is close to the former intensive pressure zone, and can only continue after recovery. From the 4H perspective, the Bollinger Bands are above the middle limit, running near the MACD zero axis. The main support below the day is 68.75, the second support is 68.00, and the upper resistance is 70.50, 71.50. It is expected to test the first resistance in the short term above the first support.
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