6.27 Foreign exchange gold bulls are weak, and the recent trend of operating shorts is dominant

Gold News Analysis:

There were relatively few fundamentals last week, and some fundamentals from non-US countries that were more important during the week.

For example, the UK CPI data unexpectedly rose, and the high inflation caused the Bank of England to directly raise interest rates by 50 basis points on Thursday, much higher than the 25 basis points previously expected by the market. At the same time, the Swiss National Bank also raised interest rates by 25 basis points again last Thursday. Judging from the market reaction, after the Bank of England and the Swiss National Bank raised interest rates, both the pound and the Swiss franc did not rise but fell, which also gave non-US currencies the opportunity to rise high on Friday.

The internal conflict in Russia caused a heated debate in the market over the weekend, and the conflict has eased now, but the panic still exists. We still need to pay close attention to the performance of the US dollar, crude oil and gold prices under the panic on Monday. At present, the market expects that some market funds may turn to safe-haven assets such as the US dollar, US Treasury bonds and gold, but we still need the price performance at the beginning of the week to verify this.

This week is the last week of June, and there are relatively few fundamentals. We focus on the performance of the Eurozone CPI data and the US PCE data on Friday. In addition, pay attention to the speech of European Central Bank President Lagarde on Tuesday, and pay attention to the speeches of Bank of England Governor Bailey, European Central Bank President Lagarde, Federal Reserve Chairman Powell and Bank of Japan Governor Kazuo Ueda at the ECB Central Bank Forum panel discussion on Wednesday. Pay attention to the speech of Federal Reserve Chairman Powell on Thursday.

Gold technical analysis:

1. Gold tumbled and fell last week, reaching a high of $1957 and a low of $1910. It bottomed out and rebounded. The weekly line passed through the 5-20-day moving average. The KDJ indicator had a dead fork. The accompanying J-line turned its head and ran in the oversold area. It is expected that gold will not have much room to fall in the past 1-2 weeks. The following is concerned about the support of $1900. The daily line bottomed out and rebounded on Friday. It rose by $1936.9 in late trading and fell back. The daily line closed with a positive line with a lead. The KDJ indicator turned its head upward. There are signs of another golden fork. The MACD indicator had a dead fork. The green short momentum did not increase. Gold also rose slightly in early trading. The trend of gold

2. In four hours, the Bollinger Band opening went up, and gold opened high and low in the morning to repair the gap. At present, gold is still running near $1926, and the 5-day moving average crosses the 10-day moving average. The KDJ indicator is low and the gold fork, and the picture turns upward. The MACD indicator is gold fork, the red bulls kinetic energy increment, the TRIX indicator is gold fork, and the short-term gold trend is also bullish. In combination with the daily trend, gold's intraday operation tends to fall back and do long orders. The short-term trading idea focuses on the pressure near $1940 above, and the early $1920 support below.

Gold operation strategy recommendations:

1. Gold fell steadily near $1917-1919, with a stop loss of $1912 and a take profit of $1930-1935

Gold rose steadily near $1931-1933, stop loss $1938, take profit at $1920