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Gold soared to welcome ADP, and bulls were probably killed

2023-08-30 13:26:02    Source: Special arrangement of Goldnet

Gold finally soars

US dollar callback as scheduled


[Data Map]

Yesterday, the US dollar hit the high point of last Friday and fell back as scheduled

The dollar fell

The market of other varieties has become active

First, the Dow rose

Followed by gold and crude oil

The US dollar failed to break a new high yesterday and continued to fall due to long positions

Short term entry to adjust the rhythm

The current decline of the US dollar cannot be defined as a short position trend

From the dollar daily and weekly charts

The pattern of dollar bulls remains unchanged, but the market is adjusted on a short-term basis

And after the sharp rise of gold yesterday, today ushered in ADP data

After the gold was raised yesterday, the short term must be strong

Fallback is still possible

But not high

The key suppression above focuses on the 1945 - 1948 region

Do not chase high near this area

Just said that the dollar is still the main trend

Therefore, the US dollar recovered in place and rebounded

Is where gold is short

Operation today

Extremely strong rise, relying on the short line near the overnight low of 1931, see the first rise, see the long target in 1942-1945 area

If the data in the evening takes the opportunity to rise to the 1945 - 1948 area, it will be determined to empty. This empty space is a short-term short pullback. No matter how profitable the data is, as long as it reaches this suppression position, it can participate in the defense of 1955. The goal is to see a pullback of about $15.

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