Analysis of Foreign Exchange Gold and Crude Oil Trends on November 21st
After the opening of the Asian market yesterday, the euro fluctuated downwards and fell back to the second support during the closing session, rebounding. The daily closing line closed with a bearish candlestick in the upper and lower shadow lines, with resistance and support coexisting. The short term long short competition is expected to continue. Combined with the 4H trend, the Bollinger Bands have slightly flattened, and the MACD zero axis is running below. The top resistance of the day is 1.0575, the second resistance is 1.0620, and the bottom support is 1.0495, 1.0455. It is expected to test the first support below the first resistance in the short term.
The pound rose and then fell yesterday, with a slight easing in the New York session near the first support line. The daily closing line closed with a small bearish candlestick at the upper and lower shadow lines, while the lower support remained. At the same time, the upper resistance did not recover, and the short-term cautious pursuit of gains and losses. From the 4H perspective, the upper and lower Bollinger Bands slightly narrowed, and the MACD zero axis was running below. The main resistance at the top of the day was 1.2675, the second resistance was 1.2730, and the lower support was 1.2595, 1.2545. Before the first resistance recovered, the short-term is expected to test the first support.
After a slight adjustment yesterday, the US and Japan continued to rebound, hitting the second resistance and rising to fall back during the trading session. The daily chart closed at the upper shadow line with a bullish candlestick. Currently, the primary support below is 154.50, the second support is 153.90, and the upper resistance is 155.50156.00. It is expected to rebound above the first support in the short term.
XAUUSD
Gold rebounded to near the second support yesterday and continued to rise, expanding its gains during the New York session. The daily chart closed at the upper and lower shadow lines with a bullish candlestick. From the close, it is currently close to the front resistance zone above, and can only continue after breaking through. Combined with the 4H chart, the Bollinger Bands are above the zero axis of MACD. The main support for the day is 2650-52, the second support is 2641-42, and the upper resistance is 2666-672676. The first support is expected to test the first resistance in the short term before it falls.
Crude oil rebounded to near the first resistance yesterday under pressure and fell back to the first support at the end of the day to initiate a rebound. The daily chart closed with a small bearish candlestick above and below the upper and lower shadow lines, and the previous resistance zone still exists. Short term long short volatility continues. From a 4H perspective, the Bollinger Bands are above the middle limit, and MACD is running above the zero axis. The main support for the day is 68.50-60, the second support is 67.65, and the upper resistance is 69.60-70, 70.65. It is expected to retest the first resistance in the short term if it remains above the first support.
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