10/06 Market report

 【Dow Jones】

This week, the market focused on employment data. ADP's employment data, which is called “small non-farm”, was better than expected. Private employment increased by 208,000 in September, up from 185,000 after the previous value correction and the market estimated 200,000. The 10-year US bond yield rose to 3.71%. After two days of rising, yesterday finally ended with a crosshair, waiting for the subsequent strengthening or weakening pattern.

In the daily technical indicators of the Dow Jones industrial average, Alligator shows a dead cross, indicating that the long-term Dow Jones industrial average is slightly empty, while the short-term KD index shows a gold cross. Although the long-term index is slightly empty, the short-term index is supported by buying. The follow-up observation focuses on whether the upward pressure will be breached.

USA30-D1:Downtrend

Price point: 31273

Current transactions:Hold empty orders with targets at 30200 and 30000

Alternatives:Set 32800 and 33200 after the price hit 31273

Comments:The RSI value of 47.88% was off the mark.

【Euro】

The final value of the eurozone's S&P's global composite PMI came to 48.1 in September, a nearly 20-month low, also down from 48.9 in August and slightly below the initial estimate of 48.2. In addition, Germany's same PMI came to 45.7, France's to 51.2 and Britain's to 49.1 outside the euro zone.

The high inflation associated with the war in Ukraine and the energy crisis is destroying demand, except during the epidemic lockdown, the worst situation since the European debt crisis in 2012. Businesses and households are also cutting back on unnecessary spending and investment in preparation for the winter.

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 index presents a dead cross, indicating that it has started to rebound to a stage where there is a great opportunity to face a wave of selling pressure.

EURUSD-D1:Uptrend

Price point: 1.00500

Current transactions:Hold multiple orders with targets at 0.99200 and 0.99500

Alternatives:Set 0.99200 and 0.99000 after the price hit 1.00500

Comments:The RSI value of 52.16% was too high.

【Gold】

Gold prices in new york fell on Wednesday as traders assessed whether the US Federal Reserve would maintain its hawkish stance after a series of mixed US data. At the same time, the U.S. dollar strengthened, and U.S. treasury bond yields rose after data showed that U.S. service industry activity expanded and the Federal Reserve's San Francisco branch president Mary Daly made hawkish comments, which put pressure on gold prices.

In the technical line of gold's daily line, the long-term Alligator is tangled, indicating that there is no obvious trend in the long-term trend of gold. the short-term KD index has entered into high-end passivation, and the price has exceeded the previous wave's high point, indicating that the trend of gold's short-term strength has emerged.

XAUUSD-D1:Uptrend

Price point: 1614

Current transactions:Hold multiple orders with targets at 1722.8 and 1723.2

Alternatives:Set 1612.5 and 1611.8 after the price hit 1614

Comments:The RSI value of 57.46% was too high.

【Crude Oil】

The pressure of global inflation has intensified, and the soaring energy price is undoubtedly the biggest driving force behind it. The Organization of Petroleum Exporting Countries (OPEC+) announced yesterday (5th) that it would cut production by 2 million barrels of crude oil per day since November, the largest drop in nearly two years.

Based on OPEC+ oil production in September, only eight countries are required to achieve the new target of production reduction, which is estimated to be about 880,000 barrels per day. An OPEC+ member representative pointed out that unless the market changes drastically, the new cooperation agreement reached this time will be implemented until the end of next year.

In the technical line of the Japanese crude oil, the long-term Alligator is tangled, indicating that the crude oil in the long-term trend has begun to be chaotic and the short-term KD index is showing high-grade passivation, indicating that the bulls have begun to have the strength to rise, and then continue to rise to break through the pre-wave pressure. I am afraid the strength to rise will be stronger.

USOIL-D1:Downtrend

Price point: 90.52

Current transactions:Hold empty orders with targets at 87.50 and 86.20

Alternatives:Set 92.5. and 93.8 after the price hit 90.52

Comments:The RSI value of 55.31% was too high.

OnePro Special Analyst

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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.

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