1.6 Analysis of the Trend of Foreign Exchange Gold and Crude Oil
After the opening of the Asian market last Friday, the euro rebounded slightly and hit near the first resistance at the close. The daily line closed at the middle of the lower shadow line and was close to the front resistance zone. Before recovering, it cautiously pursued gains. Combined with the 4H trend, the upper and lower Bollinger Bands slightly narrowed, and the MACD zero axis was running below. The main resistance above the day was 1.0345, the second resistance was 1.0380-90, and the support below was 1.0265 and 1.0215. It is expected to retest the first support in the short term below the first resistance.
After a slight adjustment last Friday, the pound fluctuated upwards and hit the first resistance, rising and falling back in the intraday. The daily chart closed at the upper shadow of the bullish line, with resistance still present above and a slight bearish trend in the short term. From a 4H perspective, the Bollinger Bands are lower, and the MACD zero axis is running below. The top resistance is 1.2475, the second resistance is 1.2530, and the bottom support is 1.2385, 1.2330-40. Before the first resistance recovers, the short term is expected to retest the first support.
After last Friday's pullback, there was a rebound, but the upper space was limited. The daily chart closed with a small bearish candlestick at the upper and lower shadows. Overall, the volatile pattern of the daily chart has not ended yet, and the short-term cautious pursuit of gains and losses. From the 4H perspective, the upper and lower tracks of the Bollinger Bands narrowed, and the MACD zero axis ran around. The main support for the day was 156.85, the second support was 156.30-40, and the upper resistance was 157.80, 158.20-30. It is expected to test the first resistance above the first support in the short term.
XAUUSD
Last Friday, gold rose first and then fell back to near the second support during the New York session, slightly easing. The daily chart closed at the upper shadow line with a bearish candlestick. From the close, the upper resistance remained, while the lower side faced multiple supports, preventing short-term fluctuations. Combined with the 4H chart, the Bollinger Bands were above the middle limit, and the MACD zero axis was running above it. The main support for the day was 2632-34, the second support was 2626-28, and the upper resistance was 2647-482655-56. The first support is expected to retest the first resistance in the short term before it falls.
Crude oil basically met expectations last Friday, with a pullback to the first support during the European trading session and continued to rise until it reached the first resistance at the close. It slightly fell back and closed at the upper and lower shadow lines with a bullish candlestick. The closing position touched the previously dense pressure zone, and the upward space can only be opened after breaking through. From the 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 73.00, the second support is 72.30-40, and the upper resistance is 74.35, 75.30-40. It is expected to remain above the first support in the short term and test the first resistance
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