Wei Liangchen:8.2International gold hit a historic high on Friday! Next week's gold price will increase2000Coming soon

[b][size=5]8.2International gold hit a historic high on Friday! Next week's gold price will increase2000Coming soon[/size][/b]


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International gold has had a strong momentum in the past week, reaching a historic high on Friday and touching1983The high point of the US dollar is on the front line, due to the continuously declining US dollar and poor economic data in various regions, which has led investors to flock to buy gold as a safe haven. The price of gold has set a new record since2016year2The best performing month since the beginning of the month also recorded the fourth consecutive month of gains. Safe haven gold has risen so far this year30%Driven by global low interest rates and widely implemented stimulus measures by central banks around the world. Gold is seen as a safe haven against inflation and currency depreciation.
[img]https://www.myleguan.com/lf//dict_upload_file_module_3/20200802/png/50369391055410908r92824.png[/img]


Market aspect:


The trend of gold last week was pleasantly surprising and stimulating, with morning trading on Monday and Tuesday both showing signs of excitement40The rise of multiple US dollars led to a sharp decline in the market on Tuesday afternoon, with a sharp drop of nearly80The US dollar once touched1900Near the integer level, when everyone is worried about whether the market will peak, the golden eveningVType reversal, recovering most of the lost ground, continuing to rebound on Wednesday after high pressure before testing, and continuing to decline on Thursday, falling to1939The region then rose again, and the market continued to rebound on Friday. The rise directly hit a new high and then fell back, ultimately closing at a strong high level1970upper!
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[color=#ff0000][b]Regarding the market layout for next Monday, Wei Liangchen reminds everyone to pay attention to several aspects:[/b][/color]


1Remember one thing, weak combined with yin and strong combined with yang are the most basic indicator signals for us to judge the strength of a trend. At present, the market structure of international gold shows extremely strong continuity in terms of daily, weekly, and even daily trends. The daily trend is nine consecutive positive trends, the weekly trend is eight consecutive positive trends, and the monthly trend is four consecutive positive trends. The strong rhythm is obvious, with long, medium, and short cycles, while presenting a strong form;
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International gold prices rebounded last week1906After reaching the position, continue to step back1940，1960Step back on the low point and gradually rise, while the suppression of the high point is still in place1980In a horizontal position, it is obvious that the center of gravity of the entire trend is rising, and it still belongs to a stronger rhythm; In addition, repeatedly testing a suppression level on the market price indicates that the suppression effect of this position is gradually weakening and not effective. Therefore, it means testing again1980The probability of suppression and formation of a breakthrough is also greatly increasing.
[img]https://www.myleguan.com/lf//dict_upload_file_module_3/20200802/png/50369428380460868r14226.png[/img]


Overall, in the second half of July, international gold bulls experienced a strong outbreak and entered a brief period of volatility at the end of the month. This volatility process was aimed at building momentum for August. After experiencing a tense and stimulating July, Wei Liangchen predicts that the market in August will not be dull. Short term layout rise still remains low, follow up with a focus on breaking through, and support attention from below1960，1956Continue to follow up on multiple orders with support.


(The above views only represent Wei Liangchen's personal views and are not used as a basis for trading. We will operate based on this and bear our own profits and losses. Obtain guidance on the actual market price list for operation and make a single line connection! Investment carries risks, and caution should be exercised when entering the market!)
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Market focus next week:


① Apart from basic data, the heaviest one is undoubtedly the US non farm employment data. Market expectations for the US economy7New added in the month140Ten thousand job positions, unemployment rate will decrease to10.7%。
[img]https://www.myleguan.com/lf//dict_upload_file_module_3/20200802/jpg/50369536821061088r91470.jpg[/img]
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② The Bank of England will also announce interest rates on Thursday, but no significant changes are expected.


③ The Federal Reserve of Australia will announce its interest rate decision on Tuesday and its monetary policy statement on Friday.


④ Several Federal Reserve officials will deliver speeches next week.