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Gold 3300 is a short-term watershed, and the lows in the early trading of Europe and the United States become the key
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Hello everyone, today XM Foreign Exchange will bring you "[XM Official Website]: Gold 3300 is a short-term watershed, and the lows in the early trading of Europe and the United States become the key." Hope it will be helpful to you! The original content is as follows:
Macro
Spot gold fell sharply by 2% last Friday, hitting a nearly one-month low, with a weekly decline of 2.8%, down for two consecutive weeks. However, gold prices in the Asian market bottomed out and rebounded in the early trading session on Monday, showing resilience, highlighting the market's game between risk aversion and risk preferences. The U.S. non-farm employment report will become the key this week. The Sino-US rare earth trade agreement and the G7 tax agreement boosted global stock markets and weakened the attractiveness of gold safe-haven. The Trump administration's tariff policy caused US consumer spending to fall in May, and weak economic data intensified the Fed's expectation of a rate cut. The probability of a rate cut in September reached 92.5%, and the low interest rate environment is good for gold prices. In terms of geopolitical aspects, the repeated situation in Iran and the Israeli raid on Syria have pushed up risk aversion sentiment, providing long-term support for gold prices. Gold is currently affected by multiple factors. A series of key events and data this week will affect the Fed's policy path, which will in turn affect the gold price and the market may continue to fluctuate. Investors need to respond cautiously.
Dollar Index
In terms of the performance of the US dollar index, the US dollar index showed a downward trend last Friday. The price of the US dollar index rose to 97.479 on the day, and fell to 96.966 at the lowest, and finally closed at 97.228. Looking back at the market performance last Friday, after the price rebounded slightly during the early trading session, the price was under pressure again, and the price did not break the low point on Thursday. After that, the US market bottomed out and rebounded again, but the price was still suppressed at the four-hour resistance position. Finally, the closing closed at the cross and the weekly line ended with a big negative end. In response to the subsequent needs, we need to pay attention to the gains and losses of support near the trend line.
From a multi-cycle analysis, the price is suppressed in the 99.40 area resistance at the weekly level, so from a medium-term perspective, the trend of the US dollar index will be more bearish. At the daily levelAs time goes by, the key price resistance position is at 98.10. The current price is below this position, so we need to pay attention to further continuation for the time being, but the current price is close to the support area of the upward trend line, so we need to pay attention to the support situation of the trend line in the future. At the same time, the price continues to be under pressure over the four hours. In the short term, we need to pay attention to the resistance in the 97.20 area. In the four hours, we need to pay attention to the range of 96.95-97.50. After the price breaks, the short term continues. Therefore, although it is relatively short for the time being, we need to pay attention to the market bottoming out and rebounding performance. In addition, from the short-term downward channel, the 96.50 area below is also the lower edge of the channel, so we need to focus on this position to support the rise in the future.
The US dollar index has a long range of 96.40-50, with a defense of 5 US dollars, and a target of 96.90-97.50
Gold
In terms of gold, the overall price of gold showed a decline last Friday, with the highest price rising to 3327.78 on the day, and the lowest price fell to 3255.68 on the spot, closing at 3274.43 on the spot. In response to the direct weak pressure of gold during the early trading session last Friday, the price has been running weakly all the way, and as the author said, testing the weekly support position, the weekly line ended in the end, and then the pressure will be underway according to the previous idea. The upper part focuses on the daily resistance area.
From multi-cycle analysis, first observe the monthly rhythm. The price will run at the rhythm in May as the author said, and the final cross state. For this month's price continues to fluctuate at a high level as scheduled. Today is the last trading day in June. For the current situation, the market is expected to continue to reverse K and end. From the weekly level, last week's price was tested to the weekly support area as the author said. At present, short-term attention will continue to break the weekly support after adjustment. With the passage of time, the weekly support will be at the 3285 watershed. According to the daily level, after the price fell below the daily support last week, the price continued to be under pressure based on the daily resistance. At present, the daily resistance is at the 3355 area resistance. At this point, gold can continue to be short-term in the band. According to the four-hour level, the key position of the four-hour is the key to our emphasis on short-term trends. The current four-hour watershed is in the 3300 area, so we currently focus on the gains and losses of this position. Before the break is higher, we should first look at the pressure in the short term, but once the break is higher, we need to pay attention to the rebound to the daily resistance in the future. From an hour's perspective, the bottoming out during the morning session and rebounded and broke through the high point of the retracement in the early morning of the previous trading day, so the short-term adjustment is still in progress. Pay attention to the gains and losses of the 3300 position for the time being, and treat it according to the right-hand trading method.
Gold pays attention to the 3300 watershed, and treats the right-hand trading method
European and the United States
European and the United States, the prices of Europe and the United States overall showed an upward trend last Friday. The price fell to 1.1680 on the day and rose to 1.1753 on the spot and closed at 1.1719 on the spot. Looking back at the performance of European and American markets last Friday, prices rose again after a short-term fluctuation in the early trading session, and once again hit the weekly high point in the European trading session. Although they fluctuated later, they still ended with a big sun. In the future, we will still treat it more.
From a multi-cycle analysis, from the perspective of the monthly line level, Europe and the United States are supported at 1.0850, so long-term bulls are treated, and the monthly line will close today, so focus on closing performance. From the weekly level, the price is supported by the 1.1380 area, and from the perspective of the mid-line, the price decline is temporarily treated as a correction in the mid-line rise. From the daily level, as time goes by, we need to focus on the 1.1580 regional watershed, and the temporary band above this position is treated more frequently. From the four-hour level, you need to pay attention to the 1.1710 regional support for the time being. This position is the key to the short-term trend, and the price can be treated more than the price above this position.
Europe and the United States have a range of 1.1710-20, with a defense of 40 points, and a target of 1.1790
[Finance data and events that are focused today] Monday, June 30, 2025
① To be determined by the European Central Bank forum
②14:00 UK's first quarter GDP annual rate final value
③14:00 UK's first quarter current account
④15:00 Switzerland's June KOF economic leading indicator
⑤16:30 UK's May central bank mortgage loan license
⑥ 20:00 The initial monthly value of the CPI rate in June of Germany
⑦21:45 The United States Chicago PMI in June
⑧22:00 The Federal Reserve Bostic delivered a speech
⑨22:30 The United States Dallas Fed Business Activity Index in June
⑩ The next day, the Federal Reserve Goulsby delivered a speech
03:00 the next day, the European Central Bank Governor Lagarde made a speech
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The above content is all about "[XM official website]: Gold 3300 is a short-term watershed, and the low points in the early trading in Europe and the United States become the key". It is carefully www.xmh100.compiled and edited by the editor of XM Forex. I hope it will be helpful to your trading! Thanks for the support!
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