**: Giant Elephant Gold.
Yesterday, the market was relatively light due to the news, and the overall performance of the market was relatively modest, but yesterday the dollar index showed a deep adjustment, and the spot ** was affected by the rapid upward movement of the bulls. Recently, the market has been under pressure due to the cooling of Fed rate cut expectations** The market has continued to be weighed down. Fed 1** Cleveland Fed President Mester delivered a speech, in which Mester said that the Fed could lower interest rates later this year if the economy behaves as expected. But inflation must remain low to open the door to rate cuts. If inflation does not fall, the Fed can maintain its current policy. However, Mester said, "still leaning towards three rate cuts in 2024; However, it is reluctant to provide a timetable for interest rate cuts, believing that there is no urgency to cut interest rates.
In terms of the geopolitical situation, the Israeli army said it expects the military operation in the Gaza Strip to continue until 2025. Israel** said it would not accept the terms of a ceasefire proposed by Hamas. Qatar and the United States, however, confirmed that they had received a "positive response" from Hamas to the framework of the Gaza ceasefire agreement. In addition, the Houthi armed forces conducted two military operations in the Red Sea, one against one American ship "Star of Nacia" and one British ship "Morning Tide". The Houthi leader said that if the [Israeli] assault on Gaza does not stop, we will further escalate the attack. However, the impact of the recent geopolitical situation on gold prices has been relatively limited. There will also be a Fed speech in the evening, as well as the release of US December account 2, so keep an eye out for the impact of the data on gold prices.
Yesterday, the bulls continued to rise, and the bulls broke through the pressure level in one fell swoop during the evening U.S. session, and the bulls once again gathered strength to rise. From the trend point of view, after the bears continue to **, the new ** trend type of the bulls is formed again, and there will be the possibility of continuing to step back to 2030 in the day, so the bulls are in the turnaround. From the point of view of indicators, the MACD indicator on the 30-minute period is near the 0 axis of the fast and slow line Diff and DEA retracement, and the third retracement is currently underway.
Yesterday, **continued** downward, but the bulls showed a strong phenomenon again, because the current long and short are in a low game, there is a possibility of direction selection within the day. Judging from the trend, the one-hour bearish trend continues to fall, yesterday's bulls ** showed an n-shaped structure, and if the bears fall back within the day without a new low, the bulls have a chance to turn around. From the point of view of indicators, the 1-hour MACD indicator fast and slow line diff and DEA are about to run below the 0 axis, the red kinetic energy column is getting shorter and shorter, and the bullish kinetic energy performance is insufficient.
On the 4-hour chart of the U.S. dollar index, after a brief surge in bears yesterday, there was another deep downside, and the adjustment came as scheduled. From the trend point of view, after the continuous upward movement of the bulls, the current upward trend is still maintained, and the adjustment after the rush continues to continue, and it is expected that the upper band of the ** range below will be retraced during the day.
*ETF – SPDR Gold Trust holdings report.
The above views and suggestions are for reference only. 】
3. News Surface:
45 Switzerland's seasonally adjusted unemployment rate in January.
00 Germany's seasonally adjusted industrial production in December.
00 UK Halifax SAQ House Price Index MoM (Jan).
45 December Accounts of France**.
30 U.S. December Accounts.
6. At 00:00 the next day, Fed Governor Coogler delivered a speech.
7. At 01:30 the next day, the Federal Reserve Barkin made a speech.