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Gold was still low and still not broken yesterday, but Europe and the United States fluctuated upward
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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Market Review]: Gold is still long yesterday, but it is still long, Europe and the United States fluctuated upward." Hope it will be helpful to you! The original content is as follows:
Macro
The gold market trend was ups and downs on Monday. The gold price first fell to around $3323.89, and then rebounded rapidly, falling only slightly by 0.5%, highlighting the resilience of its safe-haven assets. At the political level, the situation in Russia and Ukraine escalated, Russia's large-scale air strikes on Ukraine, Trump threatened new sanctions on Russia, and criticized Zelensky for its policy uncertainty, which stimulated risk aversion demand and supported gold prices. In the economic field, the US dollar index fell to a four-week low, providing support for gold; Trump postponed the imposition of tariffs on the EU, and although he suppressed risk aversion in the short term, the US-EU trade dispute has not subsided. In addition, the "global euro moment" mentioned by European Central Bank President Lagarde will reevaluate the value of gold if the de-dollarization is promoted. The situation in the Middle East is tense, Iran's uranium enrichment stance is tough, and regional conflicts are difficult to resolve, providing long-term support for gold. In the future, the situation in Russia and Ukraine and the US-European trade negotiations will affect short-term fluctuations in gold, the US-Europe game and the Middle East nuclear crisis determine the medium-term trend, and global de-dollarization and geopolitical reconstruction may bring about a long-term revaluation of gold's value, investors need to pay close attention.
Dollar Index
In terms of the performance of the US dollar index, the US dollar index showed a downward trend on Monday. The price of the US dollar index rose to 99.139 on the day, and fell to 98.667 at the lowest, and finally closed at 98.962. Looking back at the market performance on Monday, the price continued to be under pressure during the early trading period, and then hit an intraweek low. Although the European session adjusted slightly, it did not break the early trading high. At the same time, the price was under four-hour resistance. In addition, the market trading was light during the holiday yesterday. Overall, we will continue to pay attention to pressure performance in the future.
From a multi-cycle analysis, the price is suppressed in the 101.70 area resistance at the weekly level, so from a medium-term perspective, the trend of the US dollar index will beMore inclined to short positions. At the daily level, the key price resistance position is at 100.20 position over time, and below the price, the focus is on further pressure. At the same time, according to the four-hour level, as time goes by, the current key position of the four-hour period is in the 99.00-10 area, so it continues to be under pressure in the short term. The current price is also under pressure in one hour, so we continue to look at the pressure in the future. Pay attention to the regional support of 98.40-98-97.70 below.
The US dollar index was short in the range of 99.00-10, with a defense of 5 US dollars, and a target of 98.40-98-97.70
Gold
In terms of gold, the overall price of gold showed a decline on Monday. The price rose to the highest point of 3356.63 on the same day, and fell to the lowest point of 3323.89 on the spot, and closed at 3342.09 on the spot. Regarding the price of gold on Monday, the price of gold first opened lower during the morning session, and then the price was further tested as the author said. From the time point, the European session hit and stopped and rose. However, due to the early closing of the market yesterday, the price fluctuated significantly, and the negative line finally closed. However, in the short term, the price remained long before breaking the four-hour support. Only after breaking down can it be treated as a pressure.
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 3160 area. So from the mid-term perspective, we can continue to maintain a bullish view. The price decline is only a correction in the medium-term rise, and the price will be further under pressure only if it breaks the weekly support. Judging from the daily level, the daily level is currently supported in the 3278 area, and the price below this position is focused on further increase. At the same time, from the four-hour level, the current four-hour support is in the range of 3323-3324. This position is also the low point of yesterday. Yesterday's price stopped rising after reaching the level. As the author said, the current price will continue to pay attention to the upward trend as long as it does not break below this position. Considering that yesterday's negative line ends, if it accidentally falls below the day, the US market will be treated backhanded before and after.
Gold held long at 3323-3324 yesterday, with a target of 3365-3385-3415 (not breaking before yesterday)
Europe and the United States
Europe and the United States
Europe and the United States generally showed an upward trend on Monday. The price fell to 1.1359 on the day and rose to 1.1418 on the spot and closed at 1.1386 on the spot. Looking back at the performance of European and American markets on Monday, prices received direct support during the early trading session and further rose, When the price hit last week's high again, the price fell under pressure at the European session time point, and the US fluctuated and rose again after the session, and finally the daily line ended with a big positive. Regarding the current situation, Europe and the United States continue to look forward to rising.
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 1.1090 area, and continues to look 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 broke through the daily resistance position upwardly last week, and the resistance becomes support, and then the price will continue to operate above the daily support. At present, we will pay attention to the support position of the daily 1.1250 position to further increase the price. Judging from the short-term four-hour level, European and American market prices fluctuated and rose in the past few days, and overall they remained large, so the price temporarily continued to be bullish in the four-hour support range of 1.1370-80.
Europe and the United States have a long range of 1.1370-80, with a defense of 40 points, and a target of 1.1420-1.1480
[Finance data and events that are focused today] Tuesday, May 27, 2025
①14:00 Germany June Gfk Consumer Confidence Index
②14:00 Switzerland April trade account
③14:45 France May CPI monthly rate initial value
④17:00 Eurozone May Industrial Prosperity Index
⑤17:00 Eurozone May Economic Prosperity Index
⑥18:00 The difference in CBI retail sales in May
⑦20:30 US April durable goods order monthly rate
⑧21:00 US March FHFA House Price Index Monthly rate
21:00 US March S&P/CS 20 major cities unseasonally adjusted annual rate
⑩22:00 US May Consulting Chamber of eouu.cnmerce Consumer Confidence Index
22:30 US May Dallas Fed Business Activities Index
Note: The above is only personal opinion and strategy, 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.
5.26 Gold Analysis:
The above content is all about "[XM Foreign Exchange Market Review]: Gold was still long yesterday, but it was fluctuating and upward, and Europe and the United States fluctuated and upward". It was carefully eouu.cnpiled and edited by the XM Foreign Exchange editor. I hope it will be helpful to your trading! Thanks for the support!
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