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With tariffs rising again, can gold return to more?
Wonderful introduction:
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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange]: Tariffs rise again, can gold return to more?" Hope it will be helpful to you! The original content is as follows:
It broke out in the early morning again, and Trump imposed a 25% tariff on Japan and South Korea, and it will take effect on August 1.
The same means and the same recipe say that if retaliation is retaliated, the tariffs will be further increased by the corresponding extent.
If Japan and South Korea relax their markets and cancel trade barriers, the United States will express its willingness to reconsider or adjust tariffs.
This is even his own younger brother. I think other countries do not have this capital except for us who can force tariffs. This is a very simple truth: the supply chain is imperfect, the domestic sales market is not huge enough, and the import dependence is high, so we have to endure it!
Japan is the fifth largest importer in the United States and seventh largest importer in South Korea. Later, Trump announced that he would impose tariffs of 25%-40% on 10 other countries. It seems that 25% of Japan and South Korea are still light. This time, the announcement is mainly in Asian countries.
A new round of tariff disruption is www.xmtraders.coming again. Can gold take off again?
This depends on the response from Japan and South Korea. If you don’t retaliate, you can basically accept it like this.
The central bank has increased its holdings of gold for the eighth consecutive month and increased its foreign exchange reserves, which seems to be a response to the trade war.
The risk-averse attributes of gold are still very urgent.
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Gold, affected by Trump's tariffs last night, gold continued to rise in the early morning, and continued to test the previous day's high of 3345.
Look at the current trend:
1, there is no continuity. It fell in the morning yesterday, and the US market bottomed out and rebounded in the afternoon.
2, the touched position is exactly 3296, which is the 50% position of the 3245 rise and retreat.
3, fell intraday, rebounded in the US session, without a second drawdown.
Let’s analyze these three points:
1. The market has no continuation and it is still impossible to play according to the rules. At the same time, it is still easy to rise but difficult to fall. Yesterday you looked very weak, but in the end, it turned out to be very strong at night.
If it falls in the morning, the European session will break the bottom and the US session will take a break, which is another mistake.
2. During the fluctuation, the morning decline means poor continuity, so there is a plan that can be more than 3296 for the first time. This point appears to fall at 6-8 points. In fact, it is the same in the mantra. If the decline is 6-8 points, the US market bottoms out and rebounds. However, it is weak within the day, and everyone will adjust the support position to the 3290-91 line.
3, it is still why it emphasizes that short-term difficulties and medium-term easyness.
If it is short and long, it will be uncomfortable if the position was not good yesterday, but now, it will never be given the position of yesterday. Whether it is a double bottom 3311 or 3305, there is no more.
Similarly, the reverse time is now basically half dead, with the 618 position at 3326, which is gone, and the double tops in the early morning are definitely not within the range.
This is short-term discontinuity, and the fluctuation is large, the medium-term becomes easier and the short-term becomes difficult.
Today:
1, in the formula, rises in the early morning, and continues on the second day.
2, the retreat was first in the morning, and the European session was long, but the bottomed out and rebounded in the morning, and did not reach the 382 position and the 3326 line.
In this regard, it is mainly to find the entry position after a fixed trend, which will rise the previous day, be more than the second day, and be stuck at the position, three points: correct the low point in the early morning, the low point of the hourly line, and the position of the golden section 382.
At present, the bottoming out and rebounding is very important for the European session. Whether it continues to be more or more or fluctuates depends on the European session.
If the day continues to be suppressed at 3345, the US market will look at the retracement. If the European market rises, it will continue to reach the previous high of 3365.
In the short term, the 3326 line can be long, and the focus is on the rise of the European market and breaking through 3345.
or the European market will break through 3345. The US market will follow the long, and continue to look at the previous high of 3356-8, and the 3365 line.
If the US market does not break through 3345 during the day, it will be necessary to look at the drawdown and look at the drawdown more when it goes out. (Press the day below the previous day's high point, pay attention to the US market twiceRetracement)
(Detailed strategy, follow member tips)
[The above only represents the author's personal views and opinions. Investment is risky, so be cautious when entering the market]
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