Yan Fuyi: Today, gold broke a new high as scheduled, and the new high has already been broken1961Look back!

　　Yan Fuyi: TodaygoldBreaking the new high as scheduled, the new high has already been reached1961Look back!

　　
　　　
Interpretation of the Latest News of Gold
　　
The European Council recently agreed to join the European Union2020Increase in annual budget62Billion euros to cope with the impact of the COVID-19 crisis, suggesting that the global easing policy is still continuing and will still support the gold price.
　　
The Canadian government has retaliated against the Trump administration's imposition of tariffs on Canadian aluminum, with a total retaliatory tax on US aluminum tariffs reaching36Billion yuan has heated up the trade situation and restricted the decline in gold prices.
　　
The employment data recently released by the United States shows that the number of newly unemployed people still hovers at a high level, suggesting that the recovery of the labor market from the COVID-19 epidemic tends to stagnate, or limit the decline of gold prices.
　　
This week, the three major central banks, including the Federal Reserve, will also announce their interest rate decisions, which may push gold prices out of the adjustment trend
　　

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Market hotspots this week
　　
　　1.9month15On Tuesday, China8Month and1-8Industrial added value above monthly scale, UK8Monthly unemployment rate, France8monthCPIData, Germany and Eurozone9monthZEWEconomic Prosperity Index, United States8Monthly Import Price Index, United States8Monthly industrial output; The Reserve Bank of Australia announces9Minutes of the monthly monetary policy meeting,IEAMonthly announcementcrude oilMarket report;
　　
　　2.9month16On Wednesday, as of9month11Day and WeekAPIChanges in crude oil inventory, Japan8Month end and quarter end commodity trade accounts, UK8Monthly and quarterly adjustment inputPPI, UK8Monthly Retail Price Index, UK8monthCPIEurozone7Rose adjusted trade account, United States8Monthly Retail Sales, Canada8monthCPIAs of9month11Day and WeekEIAChanges in crude oil inventory; Japan convenes an interim parliament to elect a new prime minister;
　　
　　3.9month17On Thursday, the second quarter of New ZealandGDPAustralia8Unemployment rate after quarterly adjustment, Eurozone8Monthly and quarterly adjustmentsCPIAnnual rate, United States as of9month12Number of initial claims for unemployment benefits in the current week, United States8Monthly construction permit rate, United States8Total monthly construction permits, United States8Monthly annualized rate of new housing construction, United States8Annual total number of new housing starts per month; The Federal Reserve announces its interest rate decision, while also releasing economic expectations and interest rate expectations on a grid chart; The Bank of Japan announces its interest rate resolution and holds a press conference; The Bank of England announces interest rate decisions and minutes of monetary policy meetings;OPECAnd nonOPECMinisterial level supervisory committees of oil producing countries hold meetings;
　　
　　4.9month18Japanese Friday, Japan8Monthly nationwideCPI, UK8Retail Sales after Rose Adjustment, Canada7Monthly retail sales, US Q2 current account, US9Monthly University of Michigan Consumer Confidence Index;
　　

Analysis of Gold Trends
　　
Change the weekly line atMA10Above, all moving averages run upwards, currently favorable for bulls; On the daily line, the Bollinger belt is suppressed on the track1982Nearby, the lower rail is supported by1907Nearby, but there is also a strong moving average support, which isma30Supported on1897Nearby. All below form a double support, but the upper track of the Bollinger Band suppresses the hook head downwards significantly, and all long and short positions remain flat
　　

Looking at it four hours ago, the current Bollinger Bands show a constricted opening,KThe line still runs between the middle and upper tracks,MA5Daily moving average andMA10The daily moving average is crossed by a golden cross, and buying is pouring in,KDJThe third line of random indicators suddenly rises and reaches overbought,MACDThe red kinetic energy column began to increase in volume, and the fast and slow lines formed gold. Overall, the current trend is a volatile and slightly upward trend. Although multiple indicators indicate a bullish trend, the intraday increase is limited, and the downside risk is still present. Today's operational strategy is mainly to sell high and buy low. Follow Above1955-1960Resistance zone, if it breaks through this range again, continue to look upwards and pay attention below1935Frontline support.
　　
Recommendations for Gold Operations
　　
Gold1960Empty order entry, target view1935-1940On the front line, if it stabilizes1935If it doesn't break, it will rebound and become bullish!






　　
So the above is about the trend and analysis of spot gold, without specific operational suggestions. For more current analysis, continue to focus on Yan Fuyi!!
　　　　   
Objectively speaking, in a volatile market, the longer it lasts, the stronger its explosive momentum becomes, and during this period, it will also cause too many people to lose their direction! Lose confidence! Of course, transactions are probabilities, which cannot be denied. But sticking to our original intention until the market provides the final answer, I think this should be the basic condition we must adhere to! It is also a code of conduct that a famous trader should have! The saying goes, plan your trades, trade your plans! Moreover, it takes time for a volatile market to give a final answer?! Adhere to the trading principle of never breaking, never standing, and breaking through and reversing positions! Objectively examine and strictly enforce!






Author of this article: Yan Fuyi
　　
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