The gold market is slightly depressed
On Monday (3.12), the price of gold fell slightly by 0.04%, taking the gain from the previous trading day and reporting a gain of 1323.5 U.S. dollars per ounce. The Asia-Europe two-plate weaker pattern oscillated. Due to the strong risk of global investment, various degrees of rise occurred on Monday's trading, which led to the pressure on gold. In February, the average hourly wage rate of the United States in February was only 2.6%, which was lower than the expected 2.8%. The previous value was 2.9%. This triggered concerns about the slowdown in the pace of inflation in the United States. As a result, gold gained support. After the report was released, the Fed Evans expressed concern about the downturn in inflation. The U.S. Department of Labor will announce the U.S. monthly rate of post-adjusted CPI in the second quarter tonight, and market expectations generally reflect the downturn. The market believes that the Fed will raise interest rates at the meeting on March 21, and the current gold market will be under pressure again before next week’s meeting begins. In addition, last Friday's sluggish wage growth in non-farm payrolls caused persistent volatility in the US dollar. The US dollar was sold off on Monday, closing down 0.23% to 89.911. The successful conclusion of negotiations between the German coalition party and the SPD ended more than four months in Germany. In the political stalemate, the ruling parties signed a coalition agreement on Monday. The euro (1.2332, -0.0002, -0.02%)/US dollar closed up 0.22% to 1.2333. In addition, due to the positive impact of the progress of Brexit, British officials said that the UK and the EU are "very Close to the “implementation agreement”, the pound sterling (1.3889, -0.0015, -0.11%)/US dollar closed up 0.41% to 1.3905, while the “Gategate” scandal escalated, and the cabinet’s support of the Japanese Prime Minister Shinzo Abe’s leadership was delayed by five times. The first time the month fell below 50%, the yen once pulled up more than 60 points and eventually closed up 0.37% to 106.41. After Australia received the steel and aluminum tariff exemption from the US, the Australian dollar (0.7869, -0.0004, -0.05%) was up 0.32. %, at 0.7872.
There is no major probability event in the trend trend of gold technology. The medium-term and long-term modalities form the main trend. In the short term, the market sentiment has been repeatedly reorganized. On the daily line, the pattern showed a bottoming up. The overall pattern was within a narrow range. The K line continued to adjust within a narrow range and the Asian-European downtrend did not show a sharp correction and fell below its previous low level. There is no effective breakthrough in the range of shocks. At the four-hour level, the K-line structure once again penetrated the previous high of 1340 to the current downtrend channel, and the technical indicators showed signs of falling again. The MACD's heavy gains began to show strength, and the four-hour overall pattern regained its strong shape. Taking into account yesterday's gold and Asia-Europe began to lure, the US disk continued slightly, but once again form a lean trend rebound, so today we first observed on Tuesday the strength of the Asian and European markets, whether it can break through the suppression of the 1326 above, below the attention again 1320 Long and short distances, the strengths and weaknesses of these two points, and the sky can still be kept high.
1.1326 empty, loss 1330, target 1317
More than 2.1317, loss 1313, goal 1325