The two currencies finally had a short-term breakthrough yesterday. After Ethereum was under pressure and fluctuated continuously at 1830, it broke through strongly yesterday and reached above 1870. Although this rebound is not enough to change the daily line structure, it can also boost bulls in the short term and avoid the risk of downward price after the shock. The daily line is still mainly under pressure at 1880. This position is the retracement point after the CPI surged and came under pressure this month. It is also the key resistance suppression point of the daily line. Before the daily line stabilizes at this position, the short-term rebound cannot be accelerated. Fortunately, the currency price is currently stable above 1830, so the daily line will continue to be bullish around this position. Keep an eye on 1880 on the top, and continue to look up to the 1920 line if it breaks through and stabilizes in the short term.

Short-term 1830+

Gold, after closing with a positive sign on the daily line last Friday to stop the decline, experienced a wave of fluctuations at the beginning of this week. Yesterday, it bottomed out and rebounded, and finally closed with a long lower shadow negative line. Currently, the downward line mainly relies on the 1950 line to provide strong support. This position has been emphasized in this week's article. Whether the daily line can further effectively open up the downward space depends on the gains and losses of this position; and on the upside, it is mainly under pressure at 1975. This position, as the previous support conversion position, also determines the trend of this week. If the daily line can break through and stabilize, it will continue to hit the 2000 mark in the short term. At present, the daily line has a trend of fluctuations. Short-term focus on the range of 1950-1975, and then judge the subsequent trend direction according to the gains and losses of the top and bottom. In terms of intraday, yesterday, with the weakness of the Asian and European sessions, the US market rebounded strongly to break through the intraday high, but Friday's high of 1985 was still under pressure. In the short term, we will first look at the continuation of yesterday's US market rebound, support 1970, and go long when we step back to this position.

Short-term 1970+

This article is original written by me, Xiao Feng Lunbi. The above analysis is only a personal opinion and is for reference only. Investment is risky and you should be cautious when entering the market. Please indicate the source when reprinting!