The pressure of the dollar's pullback is increasing, and the gold price is facing a good opportunity to rebound?

Spot gold trading strategy on September 8: The pressure of the US dollar's pullback is increasing, and the gold price is facing a good opportunity to rebound?

This trading day will focus on the speech of Federal Reserve Chairman Powell, the European Central Bank's interest rate decision, the changes in the number of initial jobless claims in the United States, the speeches of Chicago Fed President Evans and Minneapolis Fed President Kashkari, and Russia and Ukraine News about the geopolitical situation and the Russian-European energy game.

Daily level: shock; gold price held the first-line support at 1680 again, K-line recorded a bullish signal similar to "engulfing", KDJ re-formed a golden fork, MACD green column shrank, destroying the short-term bearish signal on Tuesday, and fell on the 5th Before the moving average of 1711.15, the short-term rebound is expected to continue. Pay attention to the double resistance level near the high of September 6 and the low of 1727 on August 22. If the resistance can be broken, it will increase the short-term bullish signal. Further resistance is near the 21-day moving average at 1741.56, and the 55-day moving average resistance is near 1752.18.

Before breaking 1727, you still need to beware of the possibility of falling back, and pay attention to the support near the 1700 mark below. If it falls below this position, it will increase the short-term downside risk; last week's low support was around 1688.71, and the low support in July around 1680.79.

Resistance: 1727.69; 1741.56; 1752.18; 1760.00;

Support: 1711.15; 1700.00; 1688.71; 1680.79;

Short-term operation suggestions: conservatives wait and see; radicals are cautious and short on dips.

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