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Gold short-term short-term short positions continue, and European and American daily resistance remains short
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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Market Analysis]: Short-term short positions of gold continue, and short positions remain under the resistance of European and American Japanese lines." Hope it will be helpful to you! The original content is as follows:
Macro
Recently major events in the international political and economic fields have occurred frequently, which have profoundly affected the global market. From May 10 to 11, China and the United States held high-level economic and trade talks in Geneva, Switzerland. The two sides exchanged in-depth exchanges on economic and trade issues and reached important consensuses such as establishing an economic and trade consultation mechanism. The atmosphere of the talks was frank and constructive. The results significantly boosted market confidence, safe-haven assets were sold, spot gold fell, and U.S. stock index futures rose sharply. At the same time, the geopolitical situation ushered in positive changes. India and Pakistan reached a ceasefire agreement on May 10, and the eouu.cnmander-in-chief of the military operation will have another dialogue on the 12th. The Russian-Ukrainian conflict also turned around. Putin proposed to resume direct negotiations in Türkiye on May 15, and Zelensky expressed his willingness to negotiate and looked forward to a full ceasefire. Looking ahead to this week, global markets focus on economic data and trade negotiations. The United States will release key data such as CPI in April, and Trump's remarks during his visit to the Middle East have attracted much attention; the euro zone, the United Kingdom, Japan and others will also release a series of important economic data, which is expected to trigger a new round of market fluctuations.
Dollar Index
In terms of the performance of the US dollar index, the US dollar index showed an upward trend last Friday. The price of the US dollar index rose to 100.842 on the day, and fell to 100.059 at the lowest, and finally closed at 100.407. Looking back at the market performance last Friday, the price fluctuated at a high level in the early trading period first, and then the price was under pressure and corrected. From the position and time, the price was tested at the US market to the four-hour support position, and then stopped upward as expected. Although the big negative ended in the end, the overall focus on the daily line and the four-hour support area will look to the rise.
From the multi-cycle analysis, the price is suppressed in the 102.80 area at the weekly levelDomain resistance, then from a medium-term perspective, the trend of the US dollar index will be more bearish. At the daily level, the price is above 99.80, and the overall view is based on the bulls in the band. The focus will be on the gains and losses of weekly resistance after the daily band rises. At the same time, according to the four-hour level, the price further rose yesterday based on the four-hour support, and is currently supporting the 100.30 area in the four-hour area. The US Index has been adjusted in the short term for one hour. At the same time, the closing of last Friday was eouu.cnbined, so today, the focus is on the support of the 99.80-90 range today. After the subsequent price is in place, we will pay attention to further increase. The 100.80-101.30 area is followed.
The US dollar index has a long range of 99.80-90, with a defense of 5 US dollars, and a target of 100.80-101.30
Gold
In terms of gold, the price of gold generally showed an upward trend last Friday, with the highest price rising to 3347.36 on the day, and the lowest fell to 3274.64 on the spot, closing at 3325.4. In response to gold fluctuations during the early trading session last Friday, and then broke through the early trading high point. The subsequent price tested the four-hour resistance near the four-hour level as scheduled, and was under pressure again in the evening. Although there was no significant decline last Friday, it opened directly after opening on Monday today, and the market as a whole was in line with expectations.
From a multi-cycle analysis, first observe the monthly rhythm. The price has risen in the early stage for three months and then a single-month correction. Recently, it has risen in the recent four-month period, so according to the rhythm, there have been four consecutive positives. For the current May, we must pay attention to market risks. From the weekly level, gold prices are supported by the support level in the 3100 area. So from a mid-term perspective, we can continue to maintain a bullish view, and the price decline is only a correction in the medium-term rise. From the daily level, the price broke through the daily resistance at the beginning of last week, but finally fell below the daily support at the end of the week, so the current band is still relatively short-term. Pay attention to the 3315 area at the position, and the price is short-term below this position. At the same time, we need to pay attention to the resistance of the 3325 area for the first time. Relying on this area in the short term, we continue to look at the pressure. At the same time, we should look at the gap in the morning trading today. We should follow the pressure in the 3325 area in the future, and then pay attention to further weak performances in the future.
Gold 3325-26 is empty in the range, defense is 3348, target 3260-3243-3202
European and the United States
In terms of Europe and the United States, prices in Europe and the United States generally showed an upward trend last Friday. The price fell to 1.1196 on the day and rose to 1.1292 on the spot and closed at 1.1247 on the spot. Review of the performance of European and American markets last Friday, the price of the morning opening was shortThe line first fluctuated and fell, but the market did not continue but further broke through the early high point, and then continued to correct upward. The US hit a four-hour resistance and fell under pressure after the session. In the end, the daily line still ended. Overall, Europe and the United States will continue to maintain a short-short performance.
From a multi-cycle analysis, from the monthly level, Europe and the United States are supported by 1.0800, so long-term bulls are treated. From the weekly level, the price is supported by the 1.0970 area, and continues to be bullish from the perspective of the mid-line. The price decline is temporarily treated as a correction in the mid-line rise. From the daily level, the price breaks down the daily support after the recent high fluctuation, and at the same time, the price continues to suppress the daily resistance after the breakdown. For short-term short-term treatment at 1.1320 on the band, it will only turn upward after the subsequent breakdown, otherwise it will be short-term treatment on the right. From the short-term four-hour level, the current four-hour level resistance is at the 1.1255 area resistance. Pay attention to the gains and losses of this position in the short term. This week, beware of the price continuing to test the daily resistance before being under pressure. Therefore, focus on daily resistance in the future.
Europe and the United States have a short range of 1.1310-20, defense is 50 points, target 1.1200-1.1140
[Finance data and events that are focused today] Monday, May 12, 2025
①07:50 Japan March Trade Account
②22:25 Federal Reserve Director Coogler delivered a speech
Note: The above is only personal opinions and strategies, for reference and eouu.cnmunication only, and does not give customers any investment advice. It has nothing to do with customers' investment, and is not used as a basis for placing an order.
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