08/24 Market report

【Dow Jones】

The data showed that private business activity in the United States shrank for the second consecutive month in August. Demand weakened due to high inflation and tightening financial environment, with service industry especially weak.

U.S. stocks have tumbled in recent days before the central bank's annual meeting this week. It is widely expected that the Federal Reserve chairman Powell will strengthen the firm commitment of the US central bank to contain inflation when he makes a speech on Friday. US consumer inflation is still at a 40-year high, although it has shown signs of cooling to the top.

Among the daily technical indicators of the Dow Jones industrial average, Alligator has shown a golden cross, indicating that the Dow Jones industrial average has shown an upward trend in the long term. The short-term KD indicator has entered a low-level passivation, indicating that the strength of the short-term pullback is quite strong. Although the long-term pattern is still long, investors in the long-term layout should be cautious and wait for the pullback low point.

USA30 Trend: Up.

Price point: 32391

Current transactions:Hold multiple orders with targets at 33000 and 33200

Alternatives:Set 32200 and 32000 after the price hit 32391

Comments:The RSI value of 50.56% was too high.

【Euro】

Global investors are worried that the US Federal Reserve will continue to actively raise interest rates, causing hot money to flow back and the US dollar to rebound. The euro fell below parity with the US dollar yesterday and hit a 20-year low. As the eurozone is expected to face a tough winter, many strategists believe that the current decline is only the beginning.

People from the Bank of Foreign Exchange say bluntly that the euro zone has been caught in a “dilemma”. First, the short-term energy problem cannot be solved, exacerbating the inflationary pressure. However, if interest rates are raised rashly, they are afraid that the economic recession will become more serious. Even if the European Central Bank has already raised interest rates two yards last month, the rate still cannot keep up with that of the United States. The short-term euro against the US dollar should remain below 1.

In the technical line of the euro zone's Japan line, the long-term Alligator forms a dead cross, indicating that the euro has fallen in the long run, and the short-term KD has entered the low-end passivation area. both the long-term and the short-term are short-term trends, and the chances of subsequent challenges are high.

EURUSD daily trend: down.

Price point: 1.02049

Current transactions:

Hold empty orders with targets at 0.99200 and 0.99000

Alternatives:Set 1.02500 and 1.02200 after the price hit 1.02049

Comments:The RSI value of 32.79% was off the mark.

【Gold】

Gold holdings in SPDR Gold Shares (GLD), the world's largest gold ETF, fell 1.45 tonnes to 987.56 tonnes on the 23rd.

According to the data of August 23 from FEDWatch, a market expectation monitoring tool calculated by Chicago Mercantile Exchange based on the futures price of the federal funds, the probability of the Federal Reserve's interest rate increase of 2 yards in September is expected to drop to 49.5% from 59% a week ago, and the probability of the rate increase of 3 yards is expected to rise to 50.5% from 41% a week ago.

In the technical line of the Japanese gold line, the long-term Alligator has changed from gold crossing to tangled, indicating that the overall trend of the long-term gold line has been broken, while the short-term KD shows gold crossing. both the long-term and the short-term are long-headed, and the trend is still strong

XAUUSD daily trend: down

Price point: 1807

Current transactions:Hold empty orders with targets at 1742 and 1738.8

Alternatives:Set 1812.5 and 1810.2 after the price hit 1807

Comments:The RSI value of 43.74% was wide.

【Crude Oil】

Oil prices climbed on Tuesday after Saudi Arabia's energy minister, Crown Prince Abdulaziz bin Salman, commented on Monday on the possibility of higher OPEC+production cuts.

At the same time, according to US media reports, as the negotiation of Iran's nuclear agreement continues, Iran has abandoned another demand related to nuclear inspection. The breakthrough is more likely after Iran abandoned another key demand last week and could lead Iranian oil back to the market.

In the technical line of the Japanese crude oil, the long-term Alligator shows a dead cross, indicating that the selling pressure of the long-term crude oil is strong, and the short-term KD index shows a high-grade passivation, indicating that the short-term is blessed with buying and the chances of challenging the pre-wave highs are high.

USOIL Japan Trend: Down

Price point: 95.650

Current transactions:Hold empty orders with targets at 91.20 and 90.50

Alternatives:Set 99.2. and 98.5 after the price hit 97.789

Comments:The RSI value of 46.72% was on the short side.

OnePro Special Analyst

Buy or sell or copy trade crypto CFDs at www.oneproglobal.com

This is a personal opinion and does not represent anyopinion of OnePro Global, nor is there any guarantee of reliability, accuracy or originality in the foregoing.

Forex and CFD trading may pose a risk to your invested capital.

Before making an investment decision, investors should consider their own circumstances to assess the risks of investment products. If necessary, consult a professional investment advisor. 

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