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At present, investors expect that Federal Reserve Chairman Powell may pave the way for an interest rate increase of 50 basis points or 75 basis points in September. There is still further downside risk for gold prices in the short term, but investors need to pay attention to the Federal Reserve's view and attitude towards economic recession. If economic recession is submitted repeatedly, it is expected to provide the opportunity for gold prices to bottoming out and recover.

OANDA senior analyst Edward Moya said, "We see a decline in yields as a good omen for gold... persistent fear in the stock market, geopolitical issues, and strong safe haven demand if energy shortages intensify. However, if investors feel that the Federal Reserve is still preparing to raise interest rates by another 75 basis points in September, it will be a trouble for gold

The global cryptocurrency market has fallen below $1 trillion after a 3.45% decline, and is currently positioned at $963.64 billion.

In this situation, a well-known crypto strategist and analyst, anonymously referred to as a "smart contractor," now reminds his followers to be cautious about the price trend of Bitcoin. This analyst told his 210000 Twitter fans that last week's price rebound in Bitcoin has pushed prices above $24000, which is just a bull market trap. According to him, last week's rally was just a fake. Therefore, analysts are waiting to buy at new lows.

Next, the strategist asserts that this bull market trap applies not only to Bitcoin, but also to other cryptocurrencies, and indicates that a new bear market low point in the cryptocurrency sector is approaching.

Smart Contractor further stated that the overall price trend in the cryptocurrency sector last week led to bullish breakthroughs in some assets, which is also false. He claims that this is a difficult trading period and will only continue to do so when assets fall to new lows in the coming weeks.

Follow within the day:

20: 30 US June Durable Goods Order Monthly Rate

22:00 US June Housing Contract Sales Index Monthly Rate

22:30 EIA crude oil inventory for the week from the United States to July 22nd

22:30 EIA Strategic Oil Reserve Inventory for the Week from the United States to July 22nd

The next day at 02:00, the Federal Reserve's FOMC announced its interest rate resolution and policy statement

The next day at 02:30, Federal Reserve Chairman Powell held a press conference on monetary policy

Technical aspect:

Bitcoin

From the 4-hour chart of Bitcoin, it can be seen that the deep decline of Bitcoin has significantly coincided with the previous long and short bands, which means continuing the previous volatility and consolidation, and the probability of returning to below $20000 in the future, allowing for continued short selling in the short term.

Pressure: 28500-31500

Support: 16500-12000

Short around 21500, stop loss 22000, target 19500.

EUR/USD

From the 1-hour chart of EUR/USD, it can be seen that the EUR/USD unexpectedly broke after a short-term convergence yesterday, which also broke the expectations of the overall consolidation relay. The adjusted low point is expected to fall back to 0.618. There will be interest rate hikes from the Federal Reserve in the evening, and it is important to note that there may be a V-shaped rebound.

Pressure: 1.0270-1.0480

Support: 1.0000-0.9000

Short around 1.0140, stop loss 1.0170, target 1.0080.

AUD to USD

From the 1-hour chart trend of the AUD/USD, it can be seen that the volatility of the AUD/USD has slightly decreased in the past two trading days. The result of weak volatility is either a weak adjustment or a circular peak. Currently, it is in a stagflation state, so we will see the adjustment for now. If we expect a peak, we need to first see a key point ahead break.

Pressure: 0.6980-0.7060

Support: 0.6860-0.6790

Short around 0.6940, stop loss 0.6970, target 0.6880.

International Gold

From the international gold 1-hour chart, it can be seen that the short term gold can be bullish and wait to rise during the day. If there is room for some upward movement, it will need to leave the market. If the current position still remains slightly volatile, it will leave before the release of interest rate hikes in the second half of the US market.

Pressure: 1722-1748

Support: 1665-1620

Long near 1715, stop loss 1710, target 1725.

International Silver

From the 1-hour chart of international silver, it can be seen that the current position of silver is slightly higher, and if done, it will be short. Similarly, before today's US market interest rate hike data, regardless of the situation, it is necessary to leave the market first. When the specific data is close, it will be decided whether to place the order or not.

Pressure: 20.60-22.80

Support: 16.80-14.60

Short near 18.60, stop loss 18.80, target 18.20.

crude oil

From the 1-hour chart of WTI crude oil, it can be seen that the significant decline in crude oil has made it difficult for bullish markets to exert further efforts for the time being. In fact, the recent two high point drops have had some strength, and the future market is likely to be more complex, with most of the volatility and consolidation, making it difficult for the trend to break out.

Pressure: 103.00-109.50

Support: 92.00-87.00

Long near 94.50, stop loss 94.00, target 95.50.