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Golden weekly support and daily resistance range oscillate, Europe and the United States' high and low points yesterday became the key
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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Decision Analysis]: The golden weekly support and daily resistance range oscillate, and the high and low points of Europe and the United States yesterday became the key." Hope it will be helpful to you! The original content is as follows:
The macro level
The decline in gold prices is directly due to the reduction of risk aversion sentiment in the market by using the Iraqi ceasefire agreement. Gold as a safe-haven asset has weakened its attractiveness, and the cease-fire agreement is fragile. Israeli criticized both sides for defaulting. Trump criticized both sides, and its sustainability is suspected to add uncertainty to the gold market. Federal Reserve Chairman Powell said on June 24 that the impact of tariffs on inflation should be observed before the interest rate cut, and there is no rush to cut interest rates, which has led to a cooling of the expectation of interest rate cuts in July. Gold, as a non-interest-generating asset, is under pressure under high interest rate expectations, and the uncertainty of inflation caused by tariffs also limits the attractiveness of gold as an inflation hedge tool. The U.S. consumer confidence index fell to 93.0 in June, and consumers were worried about employment and economic outlook. Although one-year inflation expectations fell, expectations for rising interest rates increased, resulting in weakening demand for gold safe-haven. In the long run, gold's anti-inflation and safe-haven properties are still there, and global economic uncertainty and weakening of the US dollar may rekindle gold demand. Investors need to pay attention to the Federal Reserve's policies and the situation in the Middle East and seize the opportunity to allocate.
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 98.382 on the day, and fell to 97.673 at the lowest, and finally closed at 97.948. Looking back at the market performance on Tuesday, the price continued to fall in the short term during the early trading session, and then the price showed a volatile downward trend. Finally, the day was over. As the current price approached the recent low, we need to pay attention to whether the previous low can be further stopped. The above is the focus on the gains and losses of the four-hour resistance in the short term.
From a multi-cycle analysis, the price is suppressed in the 100-area resistance at the weekly level, so from a medium-term perspective, the trend of the US dollar index will be more bearish. On the daily lineAs time goes by, the key price resistance position is at 98.50. The current price is below this position, so we need to pay attention to further continuation for the time being. At the same time, we are currently close to the support near the previous low. We will pay attention to further continuation after the price breaks through the daily resistance and the previous range. At the same time, the price on the four-hour front has been under pressure yesterday. The current four-hour resistance is in the range of 98.20-30, and the lower is close to the previous low, so pay attention to the previous low and the four-hour resistance range oscillations, and wait for the subsequent break to follow.
The US dollar index fluctuated between 97.55 and 98.25, and then followed after breaking the level. In terms of gold, the gold price overall showed a decline on Tuesday. The price rose to the highest point on the day, and the lowest point fell to the 3295.33 position, and closed at 3322.86 position. Regarding the rapid pressure decline in gold during the early trading session on Tuesday, the main factor was that the market was under cooling of risk aversion sentiment and technical pressure. The price continued to be under pressure on that day and the 3295 area was stopped. The price is currently being revised in the short term. We need to pay attention to the daily resistance and weekly support range oscillations, and will further continue after the subsequent breaking range.
From multi-cycle analysis, first observe the monthly rhythm. The price runs at the rhythm in May as the author said, and the final cross state. For June, focus on the gains and losses of May high and low points, the price will only be a real break at this position, and the long-term watershed is at 2780. From the weekly level, gold prices are supported by the 3280 regional support level. So from the perspective of the medium-term, it is still in the mid-term bull market, but it is necessary to pay attention to the market's retracement of the weekly support. At the same time, only the price will be further under pressure after breaking the weekly support. From the daily level, the price has fallen below the 3360 daily line watershed. Overall, the pressure performance will continue to be under attention, and the weekly support will continue to be focused on. At the same time, according to the four-hour level, you need to pay attention to the range 3340-3342. If the price is under pressure on the four-hour level, there will be a short-term decline. Otherwise, you must be careful of the price testing of daily resistance. The price is still adjusting from the one-hour price. The short-term price is waiting for testing for the four-hour resistance and the daily resistance area will enter the market.
Gold pays attention to the 3280-3360 range fluctuations in the short term, and waits for the 3340-60 range to appear in the negative K short period of time.
Europe and the United States
Europe and the United States
Europe and the United States, the prices of Europe and the United States generally showed an upward trend on Tuesday. The price fell to 1.1573 on the day and rose to 1.1641 on the spot and closed at 1.1608 on the spot. Looking back on the performance of European and American markets on Tuesday, prices received short-term support during the early trading session and then the market fluctuated upward, although the price pierced the near futureAt the high point of the future, but we cannot blindly look at the strong upward trend at present. In the short term, we need to pay attention to yesterday's low point and yesterday's high point break, and follow after the subsequent break.
From a multi-cycle analysis, from the monthly level, Europe and the United States are supported by 1.0850, so long-term bulls are treated. From the weekly level, the price is supported by the 1.1300 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 watershed in the 1.1510 area. The bands above this position are treated more frequently, but it is necessary to pay attention to whether yesterday's high can break through strongly is the key. Otherwise, we still need to be careful to fall down to the daily support again. From the four-hour level, we need to pay attention to yesterday's low position, which is a short-term watershed. There are further declines in the price from one hour, so pay attention to yesterday's highs and yesterday's low gains and losses in the short term, and wait for urgent attention to follow.
Europe and the United States pay attention to the range of 1.1640-1.1570, and follow after breaking the level
[Finance data and events that are focused on today] Wednesday, June 25, 2025
①16:00 Switzerland June ZEW Investor Confidence Index
②22:00 The total number of new home sales in the United States in May was annualized
③22:00 Federal Reserve Chairman Powell testified and stated
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④22:30EIA crude oil inventories for the week from the United States to June 20
⑤22:30EIA Cushing crude oil inventories for the week from the United States to June 20
⑥22:30EIA strategic oil reserve inventories for the week from the United States to June 20
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