FPG: Gold bulls failed last week and are expected to trigger a major market this week Last week, as the market expected the Federal Reserve to continue to raise interest rates aggressively at the September meeting, the U.S. dollar climbed sharply, and spot gold plummeted by more than $50, coming to a key support position of 1746. However, this week, according to the CME federal observation tool, the market expects the probability of the Federal Reserve raising interest rates by 50 or 75 basis points in September to be close to 50 to 50. Towards the end of the year, the market expects the pace of interest rate hikes to slow down. Technical aspects: From the perspective of gold’s daily K-line, shorts have an advantage, and the market may continue further. However, as the price is getting lower and lower, it is expected to have a profitable understanding market and a long counterattack, so it is recommended that shorts not fall in love with each other. Judging from the hourly chart, the hourly chart seems to be not suitable for trading, and we need to wait for further forms to appear. In terms of time, the general power appears at about 3:00 p.m., and the point is greater than the direction. It is expected that there will be games for bulls, especially on Mondays with light data. Short-term pressure during the day: 1751-1757, lower support: 1745-1740 The above analysis is only for the views of market researchers and is for reference only and is not regarded as a specific investment suggestion. #forex #trading #tradingforex #forextrade #btc