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July 4, UBS Global Wealth Management analysts said in a report that the recent strength of the Swiss franc reflects the demand for safe-haven assets before the suspension of US reciprocal tariffs ends on July 9. They said that even if the Swiss franc continues to strengthen on the deadline, the gains will be limited. They said that EUR/CHF is unlikely to fall below 0.9250 for a long time.India said that the USs 25% import tariff on vehicles and some auto parts amounted to a protective measure.1. The money that can be lost in this market can also be earned back. 2. I firmly believe that there must be a way to win. Any system can make money, but you just need to find the point of the system. For example, this system is used to make trends or consolidation, or it can accurately judge the graded trend of the market, etc. 3. I am more stable in placing orders now. Sometimes I don’t make an order for a day or two. I will only make a move when I see the opportunity. Only by being patient can we wait for opportunities. 4. Long-term callbacks, short-term shorts will appear, and medium-term fluctuations or consolidation will appear. In the whole cycle system, we make money with clear signals. 5. My method is very simple. At first, I used naked K and patterns, and then I switched to drawing lines, and then made indicators. When all patterns reach the resonance conditions, or strong support and strong resistance break through, a detonation point will be formed. 6. I do more varieties, and I wait for opportunities in varieties. For each variety, I decide the stop loss according to the breakthrough of different cycles, and then decide the position according to the stop loss. If the stop loss is small, the position will be larger, and if the stop loss is large, the position will be smaller.Market News: India has proposed retaliatory tariffs against US tariffs on auto parts at the World Trade Organization (WTO).July 4, UBS Global Wealth Management analysts said in a report that if the United States postpones its reciprocal tariffs again, the reaction of the US dollar is uncertain. The 90-day tariff suspension will end on July 9. They said that a further suspension could be interpreted as a reluctance to implement tariffs, pushing up risk-sensitive currencies. They said that if the re-imposition of high tariffs is avoided, the US dollar may get some initial support. However, a reduction in tariffs may prompt the market to digest expectations of further US interest rate cuts. Federal Reserve Chairman Powell recently said that if tariffs had not boosted inflation expectations, he would have cut interest rates long ago.

Gold Price Prediction: XAU/USD looks daily close for bear pennant confirmation; downward remains preferred

Daniel Rogers

Sep 22, 2022 14:49

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"The non-interest-bearing yellow metal appears vulnerable as Switzerland and the United Kingdom tighten monetary policy in the upcoming session. In the event that tensions between Russia and the West escalate, the dollar may experience more gains, as the flight to safety may continue in full force. In the foreseeable future, XAU/USD appears to be in a lose-lose situation."

 

"On Wednesday, the gold price temporarily violated the rising trendline support at $1,664, but avoided confirmation of a bear pennant by completing the day near $1,674. A daily closure below the support is required for the bearish continuation pattern to be confirmed. The psychological level of $1,650 will be the initial line of defense, below which buyers will seek a sustained advance into the subsequent support at about $1,642."

 

"On the other hand, any attempts at a comeback will require acceptance above the current range highs at $1,680." The next obstacle to the upward is positioned near $1,700. Daily closure above the latter is crucial for releasing the additional recovery towards the bearish 21-day moving average (DMA) at $1,704."