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Gold fell sharply as scheduled, Europe and the United States paid attention to weekly support
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Hello everyone, today XM Foreign Exchange will bring you "[XM Official Website]: Gold is under pressure as scheduled and has dropped sharply, Europe and the United States pay attention to weekly support." 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 an upward trend on Monday. The price of the US dollar index rose to 98.647 at the highest point on the day, and fell to 98.007 at the lowest point, and finally closed at 98.479. Looking back at the market performance on Monday, the price first corrected downward during the early trading period, then stopped before the European session, and made a strong rise during the European session, and finally pierced the daily and weekly resistance areas. We need to pay attention to further stability in the future.
From a multi-cycle analysis, the price breaks through the weekly resistance last week, and then breaks the weekly support again last week. Overall, the weekly price has further risen. This week, the key is to focus on whether the 98.50 position can stand firm. At the daily level, after falling below the daily support last Wednesday, the price is currently suppressed at the daily resistance level of 98.60. Yesterday, the price pierced upward, and the subsequent focus is on further stabilization. From the four-hour perspective, the four-hour perspective is the key to our emphasis on short-term price trend. When the price broke up last Friday and stood on the four-hour resistance, the previous resistance became support. Currently, the four-hour support was supported in the 98.25-35 range. Follow this position to further look at the upward trend. After yesterday's price rise, the current short-term adjustments and fluctuations are currently underway. We will pay attention to further breaking through the weekly and daily resistance after adjustments, and pay attention to the continued after the breakthrough.
The US dollar index has a large range of 98.25-35, with a defense of 5 US dollars, and a target of 98.80-99.10-99.60
Gold
In terms of gold, the price of gold generally showed a decline on Monday. The price rose to the highest point of 3404.98 on the day, and fell to the lowest point of 3341.12 on the spot, closing at 3342.61 on the spot. Gold rose and fell last Friday, and then suppressed at the early trading high intraday, and was supported at the four-hour support position below. Finally, the negative line ended.
From multi-cycle analysis, first observe the monthly line rhythm. The price runs at the rhythm in May as the author said, and the final cross state. The final price in June is still in an anti-K state. For the current situation, we need to pay attention to the gains and losses of the monthly line high and low points. From the weekly level, prices on the weekly line have continued to fluctuate at high levels recently. As time goes by, the weekly watershed is temporarily at 3338. This week, we focus on the gains and losses of this position. According to the daily level, the price rose directly last week based on the daily support. Currently, the daily support was at 3350. The price broke down yesterday. We need to pay attention to further pressure and declines in the future. At the same time, four hours are the key to the short-term price trend. Yesterday, the price weakness continued after falling below the four-hour support. As time goes by, the current four-hour resistance is in the range of 3370-3371. We will pay attention to this area under pressure in the future. At the same time, according to the one-hour level, after yesterday's weak pressure, there is currently a short-term fluctuation, and we will pay attention to the pressure after the fluctuation, and focus on the 3330-3300-3270 area below.
Gold 3370-3371 is short in the area, with a defense of US$10, and a target of 3330-3300-3270
European and American
European and American prices generally showed a decline on Monday. The price fell to 1.1589 on the day and rose to 1.1675 on the highest, closing at 1.1615 on the market. Looking back at the performance of European and American markets on Monday, the price first corrected upward in the early trading session, and then suppressed the pressure at the high point last Friday. Then the price broke through the four-hour support position under weak conditions, and finally tested the daily support area. The key is to pay attention to whether the daily and weekly support ranges can continue to break.
From a multi-cycle analysis, from the perspective of the monthly line level, Europe and the United States are supported at 1.0950, so long-term bulls are treated, and the monthly line ends with a big positive, so long-term bullishness is still relatively large. From the weekly level, the price is supported by the support of the 1.1550 area, and from the perspective of the mid-line, the price decline is temporarily treated as a correction in the mid-line rise. At the same time, it is necessary to pay attention to further retracement in the near future and pay attention to whether it can break down. From the daily level, the daily line is currently supported at 1.1600 as time goes by. This position is the key to the band trend. Pay attention to the gains and losses of this position in the future. In short-term operations, you need to pay attention to four hours. From the four-hour level, the current four-hour resistance is in the range of 1.1640-50. The price is under pressure first, and follow the follow-up attentionThe daily line is 1.1600 gains and losses. If the weak breaks, the weekly line is 1.1550 regional support will be followed. Overall, the four-hour level is temporarily the main focus.
Europe and the United States have a short range of 1.1640-50, defense is 50 points, target 1.1600-1.1550
[Finance data and events that are focused on today] Tuesday, August 12, 2025
①To be determined domestic refined oil has opened a new round of price adjustment window
②To be determined OPEC announced its monthly crude oil market report
③12:30 RBA Rate resolution
④13:30 RBA Chairman Brock held a press conference
⑤14:00 UK’s three-month ILO unemployment rate in June
⑥14:00 UK’s July unemployment rate
⑦14:00 UK’s July unemployment rate
⑦14:00 UK’s July unemployment claim
⑧17:00 Germany’s August ZEW Economic Prosperity Index
⑨17:00 Eurozone’s August ZEW Economic Economic Economy Index
⑨17:00 Eurozone’s August ZEW Economic Economic Economic and Economic Intensive Index
⑩18:00 US July NFIB Small Business Confidence Index
20:30 US July unseasonally adjusted CPI annual rate
20:30 US July seasonally adjusted CPI monthly rate
20:30 US July seasonally adjusted core CPI monthly rate
20:30 US July seasonally adjusted core CPI annual rate
22:00 US United States Chu Barkin delivered a speech
22:30 Fed Schmid delivered a speech
00:00 the next day EIA released its monthly short-term energy outlook report
04:30 the next day to the week of API crude oil inventories
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