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Gold continues to rise based on four-hour support, and multiple support from Europe and the United States resonates
Wonderful Introduction:
The moon has phases, people have joys and sorrows, whether life has changes, the year has four seasons, after the long night, you can see dawn, suffer pain, you can have happiness, endure the cold winter, you don’t need to lie down, and after all the cold plums, you can look forward to the New Year.
Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Market Review]: Gold continues to rise based on four-hour support, and multiple support resonance in Europe and the United States." 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 a downward trend last Friday. The price of the US dollar index rose to 98.276 on the day, and fell to 97.401 on the lowest, and finally closed at 97.697. Looking back at the market performance last Friday, during the early trading period, the price was directly under pressure and broke the four-hour support position. Then the price continued to be weak and broke the daily and weekly support. In the evening, non-agricultural market was once again negative for the US dollar index, and the price was under pressure all the way, and finally the heavy darkness ended in the week and day.
From a multi-cycle analysis, the price has been consolidating up and down in the weekly level recently. Currently, the weekly resistance is in the 97.90 area, and the price is short-shouldered below this position. The price will only turn long after the subsequent weekly closing above this position. From the daily level, as time goes by, the daily resistance is currently in the 98.10 area, and the price is currently bearish below this position. Recently, the price has consolidated up and down at a key position in the daily line. In terms of operation, you need to pay attention to the four-hour rhythm. From the four-hour perspective, the current four-hour resistance is in the 98 area. The price is short at this position. It is short before the price breaks through the four-hour resistance. If it breaks up later, it needs to turn around in time. At present, it is temporarily treated on the right-side trading method.
The US dollar index has a short range of 97.90-98, with a defense of 5 US dollars, and a target of 97.30-96.90
Gold
In terms of gold, gold prices generally showed an upward trend last Friday, with the highest price increase on the dayAt 3599.98, it fell to 3539.95 and closed at 3587.25. In response to the short-term fluctuation and rise of gold prices during the early trading session last Friday, as the price continued to be above the four-hour support during the day, and gold accelerated to rise and continued to hit new highs after the non-agricultural data was released, the daily and weekly lines ended in the end.
From a multi-cycle analysis, first observe the monthly rhythm. The monthly price ended in August. Overall, the price is still running bullishly. From the long-term perspective, the 3000 position is the watershed of the long-term trend. The price can be treated more on the long-term. From the weekly level, the price has broken through key resistance after recent continuous fluctuations and has continued to hit a new historical high. Currently, the weekly long and short watershed is at 3395. The price is above this position and the medium line is treated more. From the daily level, we need to pay attention to the 3455 regional support for the time being, and the band above this position should be treated more often. From the four-hour perspective, gold has continued to rise based on four-hour support recently. With the passage of time, it is currently supported by 3362 regional support. We will continue to pay attention to the rise in this regional support in the future. At the same time, from the one-hour perspective, the price has been adjusted in the short term, so wait for the price to pull back and adjust before layout. Pay attention to the support of the 3561-3562 range in position, and pay attention to the 3610-3635 area above.
Gold has a long range of 3561-3562, with a defense of 10 US dollars, and a target of 3590-3610-3635
European and the United States
In terms of Europe and the United States, prices in Europe and the United States generally showed an upward trend last Friday. The price fell to 1.1644 on the day and rose to 1.1759 on the spot and closed at 1.1720 on the spot. Looking back at the performance of European and American markets last Friday, prices received support directly in the early trading and further rose. From the perspective of position, they were supported by the four-hour support position. After the non-agricultural data was released, the price soared again, and the daily and weekly lines ended with a big positive end.
From a multi-cycle analysis, from the monthly level, Europe and the United States are supported by 1.1060, so the price is treated with long-term bulls above this position. From the weekly level, the price is supported by the support of the 1.1670 area. This position is the long-shoulder watershed in the mid-term trend. After the breakthrough last week, it will be bullish in the medium term based on this area. From the daily level, the current daily resistance is at 1.1665 as time goes by. This position is a key watershed in the band trend, and the price is more treated with the band above this position. At the same time, according to the four-hour level, the rise in the early trading of last Friday was based on the four-hour support. As time goes by, the current four-hour support is supported in the 1.1680 area. The subsequent price is expected to continue above this position.
Europe and America have a lot of ranges of 1.1670-80, with a defense of 40 points,Target 1.1770-1.1820
[Finance data and events that are focused on today] Monday, September 8, 2025
① To be determined China's August trade account
② To be determined French government holds a vote of confidence on budget issues
③07:50 Japan's July trade account
④14:00 Germany's July seasonally adjusted industrial output monthly rate
⑤14:00 Germany's July seasonally adjusted trade account
⑥16:30 Eurozone September Sentix Investor Confidence Index
⑦23:00 United States August New York Fed's 1-year inflation expectation
Note: The above is only personal opinion and strategy, for reference and xmserving.communication only, and does not give customers any investment advice. It has nothing to do with customers' investment, and is not used as a basis for ordering.
The above content is all about "[XM Foreign Exchange Market Review]: Gold continues to rise based on four-hour support, and European and American multiple support resonance". It is carefully xmserving.compiled and edited by the editor of XM Foreign Exchange. I hope it will be helpful to your trading! Thanks for the support!
Due to the author's limited ability and time constraints, some content in the article still needs to be discussed and studied in depth. Therefore, in the future, the author will conduct extended research and discussion on the following issues:
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