Xu Xiyang Market Commentary – 23 March 2022

The US dollar surged and fell on Tuesday, and non-US currencies rebounded as a whole. Due to the rise in U.S. bond yields, gold was sold off again, the Japanese yen remained weak, and U.S. stocks rebounded strongly. St. Louis Fed Chairman Brad on Bloomberg TV once again called on the Fed to take active action to hit gold prices once again. The speeches of Fed officials in the second half of the week are expected to have a profound impact on the market, and we can continue to pay close attention.

The US dollar closed out of the high doji, with limited upward momentum, the short-term moving average flattened, and the short-term tends to fluctuate. Those who are stable can wait and see for the time being and continue to pay attention to the support of the 98 mark below.

Gold fell below the 5-day moving average, and the 5-day and 10-day moving average fell further. The dead fork showed no signs of shrinking. The short-term line turned empty again. Below 1930-40, the high-altitude thinking can be continued. First, pay attention to the 1900-1920 support. If you lose it, you can look down to 1880-90.

Crude oil closed in the negative yesterday and still stood above the 5-day moving average. The short-term moving average once again traded at the golden fork. The short-term trend continues to be bearish, and the market is expected to challenge the 115 and 115.5 line.

Europe and the United States closed out of the hammer line, and the rebound was weak. Prices are still hovering around the short-term moving average, and the short-term tends to fluctuate. You can wait and see for now.

The pound rose strongly in the United States, standing at the 1.32 mark, the short-term moving average gold cross expanded, and the daily RSI is expected to return to above 50. The market will continue to be bullish in the future, focusing on the pressure of 1.33 and 1.3360 above.

The trend is extremely strong. Australia and the United States have broken through the previous high, and the upward exploration of the Japanese line has been on an upward trajectory. The Japanese line RSI continues to rise, and the short-term is expected to expand the space further, and it can continue to look as much as 0.75.

The US and Japan continue to move upward along the 5-day moving average. The short-term moving average golden fork shows no apparent signs of shrinking. The Japanese RSI has reached the overbought area. We still need to beware of the possibility of a short-term technical pullback. It is recommended to protect profits in time for multiple orders.

Silver fell gloomily yesterday, once approaching the previous low of the daily line, and continued to be under pressure at the 5-day moving average. The daily line was at the top of the head and shoulders, and 25 became the first critical pressure above. If the pressure level is not broken, you can continue to short.

The A50 rebounded slightly, and the short-term moving average rose to a golden cross. In the short term, it is not ruled out that it will increase to the pressure of the 14,000 mark. Multiple orders can continue to be held. If the mark cannot be effectively broken, numerous orders can consider reducing positions.

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