Gold

The weak US economic data and hawkish comments from Federal Reserve officials have exacerbated market concerns about the US economic recession, with safe haven funds continuing to flow into gold and gold prices remaining strong. During the Spring Festival holiday, it is advisable to watch out for drastic fluctuations in the external market during the holiday period.

Trading strategy

Bearish, looking for opportunities to short at high points.

Resistance level: $2000

Short term support: $1820

US dollar index

The trend of the US dollar index is still weak, and it is difficult for the US dollar index to experience a large-scale rebound while the euro trend remains strong, as there are still comments indicating that interest rates will continue to rise. The market still maintains a fluke mentality that central banks around the world will temporarily raise interest rates due to concerns about economic recession, but the current rate hikes may not be enough to suppress further inflation.

Trading strategy

The technical indicators deviate and the trend remains weak.

Resistance level: 105

Support bit: 100