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Gold trading methods are treated on the right side, Europe and the United States pay attention to weekly support gains and losses
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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange]: Treat the right-side trading method of gold, and Europe and the United States pay attention to weekly support gains and losses." Hope it will be helpful to you! The original content is as follows:
Dollar Index
In terms of the performance of the US dollar index, the US dollar index showed a downward trend on Tuesday. The price of the US dollar index rose to 98.021 at the highest, and fell to 97.605 at the lowest, and finally closed at 97.798. Looking back at the market performance on Tuesday, the price was under pressure again after the short-term upward correction during the early trading session, mainly because the price was under pressure for four-hour resistance, and then it fell back to the daily support area and then rose. Focusing on the subsequent focus on the 97.85 position, the bulls will exert force after the subsequent stability.
From a multi-cycle analysis, the price has been consolidating in the weekly level recently. Currently, the weekly line supports the 97.85 area, and at the same time, the price has been in the last week's resistance, and the bulls continue in the medium term. From the daily level, as time goes by, the daily line is currently supported in the 97.60 area, and the band above this position of the price has further risen. From the four-hour perspective, the current four-hour resistance is at 97.85. This position resonates with the weekly resistance, and the price has further stabilized. After the subsequent stabilization, you need to pay attention to the strength state, so the bulls arranged yesterday can continue to hold. One hour ago, the price fluctuated and fell again yesterday, forming a bottom divergence. At present, the short-term bullish state is currently in short term, so look at the subsequent focus on the price breaking through and stabilizing 97.85 and then began to make significant efforts to rise.
The US dollar index has a long range of 97.60-70, with a defense of 5 US dollars, a target of 98-98.50
Gold
Gold, weeklySecond, the gold price generally showed an upward trend. The price rose to 3871.59 on the day, and fell to 3793.06 on the lowest point, closing at 3858.2 on the spot. In response to the strong rise in gold in the early trading on Tuesday, it hit a new high and then under pressure before the European trading. It also broke through the low point of the early trading after the European trading weakly. It then tested down to four-hour support before stopping. The US rose strongly after the session and finally ended in a big positive state.
From multi-cycle analysis, first observe the monthly rhythm. From the long-term perspective, the 3130 position is the watershed of the long-term trend. The price can be treated more in the long-term. From the weekly level, the current weekly long and short watershed is at 3490, and the price is above this position and the medium line can be treated more. From the daily level, we need to pay attention to the 3735 regional support for the time being. The band above this position is treated more often, and we will continue to treat the right-hand trading method. From the four-hour perspective, when observing the pace of gold's rise, the price will remain strong as long as it does not break the four-hour support. The price will only adjust after breaking. Currently, the four-hour support is in the 3831-3832 area, so the price continues to be bullish at this position.
Gold has a long range of 3835-3836, with a defense of 10 US dollars, and a target of 3880-3890-3920
European and the United States
European and the United States, the prices in Europe and the United States were generally on Tuesday. The price fell to the lowest level of 1.1711 on the day, and rose to the highest level of 1.1761 on the spot, closing at 1.1733 on the spot. Looking back at the performance of European and American markets on Tuesday, the price first fell back during the early trading session, and then tested it to four-hour support and then rebounded upward. At the same time, the price stopped after testing it to the daily resistance. Finally, the daily positive line ended, but the current price suppressed the daily resistance.
From a multi-cycle analysis, from the monthly level, Europe and the United States are supported by 1.1100, so the price is treated with long-term bulls above this position. From the weekly level, the price is supported by the 1.1700 area. This position is the long-shoulder watershed in the mid-line trend. This week, the key is to focus on whether the weekly closing can close below this position. From the daily level, the price fell below the daily support last week, and the previous support became a key resistance, and the price continued to be suppressed at the beginning of the week, so the pressure continued to be under before this position was broken. Pay attention to the gains and losses of the weekly support below, and only after breaking down will open up space. From the four-hour perspective, the current four-hour support is at 1.1730, and the price fluctuates in this area. We will pay attention to further fluctuations and break the performance.
Europe and the United States have a short holding range of 1.1750-60, pay attention to 1.1700, pay attention to 1.1650 after breaking down
[Finance data and events that are focused on today] 2025 10Wednesday, month 1
①08:30 Fed Vice Chairman Jefferson delivered a speech
②12:00 The United States imposes tariffs on drugs, furniture, and heavy trucks
③14:00 UK September Nationwide House Price Index Monthly Rate
④14:30 Switzerland August actual retail sales annual rate
⑤15:50 France September manufacturing Final PMI value
⑥15:55 The final value of the manufacturing PMI in Germany in September
⑦16:00 The final value of the manufacturing PMI in the euro zone in September
⑧16:30 The final value of the manufacturing PMI in the UK in September
⑨17:00 The initial value of the CPI in September in the euro zone in September
⑩20:15 The number of American ADP employment in September
21:45 U.S. S&P Global Manufacturing PMI Final Value in September
22:00 U.S. September ISM Manufacturing PMI
22:00 U.S. August construction expenditure monthly rate
22:30 U.S. to September 26 EIA crude oil inventories
22:30 U.S. to September 26 EIA Cushing crude oil inventories in the week
22:30 U.S. to September 26 EIA Cushing crude oil inventories in the week
22:30 The EIA strategic oil reserve inventory in the week from the United States to September 26
Federal Barkin delivered a speech on the economic outlook
01:30 the next day, the Bank of Canada announced the minutes of the September monetary policy meeting
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