Abstract:During the trading session in Sanya, spot gold suddenly experienced a sharp drop in the short term, with the gold price just breaking below the 1930 US dollar/ounce mark.
Market Overview
During the trading session in Sanya, spot gold suddenly experienced a sharp drop in the short term, with the gold price just breaking below the 1930 US dollar/ounce mark. Valeria Bednarik, Chief Analyst at FXStreet, pointed out that before the Federal Reserve's interest rate decision, gold prices had fallen from a two week high and the current outlook remains neutral. The Federal Reserve will present new economic forecasts while announcing its monetary policy decisions. The risk aversion sentiment countered the upward momentum, with oil prices slightly falling after reaching a 10 month high.
MHMarkets strategy is only for reference and not for investment advice. Please carefully read the statement at the end of the text. The following strategy will be updated at 15:00 on September 20, Beijing time.
·Gold XAUUSD· | |
High Probability Scenario | High throw and low suction in the 1903-1919-1931-1945-1951-1960 range |
Low Probability Scenario | Chase up and kill down outside the 1903-1919-1931-1945-1951-1960 range |
·SilverXAGUSD· | |
High Probability Scenario | High throw and low suction in the 21.5-22.3-23.1-23.9-24.5-25.3 range |
Low Probability Scenario | Chase up and kill down outside the 21.5-22.3-23.1-23.9-24.5-25.3 range |
·Crude OilUSOUSD· | |
High Probability Scenario | High throw and low suction in the 83.5-85.3-87.3-89.1-90.7-91.5-92.6 range |
Low Probability Scenario | Chase up and kill down outside the 83.5-85.3-87.3-89.1-90.7-91.5-92.6 range |
·EURUSD· | |
High Probability Scenario | High throw and low suction in the 1.0570-1.0690-1.0755-1.0830-1.0950 range |
Low Probability Scenario | Chase up and kill down outside the1.0570-1.0690-1.0755-1.0830-1.0950 range |
·GBPUSD· | |
High Probability Scenario | High throw and low suction in the 1.2135-1.2250-1.2400-1.2470-1.25460-1.26505 range |
Low Probability Scenario | Chase up and kill down outside the 1.2135-1.2250-1.2400-1.2470-1.25460-1.26505 range |
Fed Governor Christopher Waller's recent comments have highlighted a cautious stance towards adjusting interest rates, marking a significant moment for the financial markets.
In the forex market, stability was the theme for the U.S. dollar index, holding firm at 104.30. Minor fluctuations were observed across major currency pairs: the Euro slightly weakened against the dollar, closing at 1.0827
In the latest market wrap focusing on the foreign exchange sector, the U.S. dollar index showed minimal movement, holding at 104.31.
On Tuesday, due to February's US durable goods orders growth exceeding expectations and an optimistic economic growth outlook for the first quarter in the US, the US dollar index initially fell but then rose, briefly touching below the 104 mark before recovering during the US trading session, closing up 0.07% at 104.29.