US market analysis
Analysis from the main influencing factors of the market, the following aspects have a great impact on the market price trend.
First, institutions pointed out that the number of people applying for unemployment insurance in the United States exceeded expectations last week, although it is still at an all-time low, which is the latest sign that labor demand may begin to slow. If the number of initial unemployment benefits continues to rise, it will imply that various sectors spending is weak and the uncertainty of the economic outlook is driving some companies to lay off employees. Still, the number of applicants is low, continuing to show a strong labor market. The number of non-farm employment will be released on Friday, and the September employment report is expected to show that the number of non-farm employment increases by 260,000. While this will be the lowest monthly new jobs since the decline in late 2020, it remains a strong growth, indicating a strong labor market. The unemployment rate is expected to remain near a 50-year low, and the average hourly wage is expected to grow strongly again.
- Some members of the ECB tend to raise interest rates slightly in September by 550 basis points, but the minutes of the meeting showed that at the end of the discussion, all members agreed to raise the three key ECB rates by 75 basis points. Despite this, it is almost unquestionable that even if interest rates increase significantly, the deposit rate of euro zone is still far below the neutral rate. Institutional analysts said the minutes of the meeting hardly changed his view that the path to least resistance for the ECB is to raise interest rates by 75 basis points later this month and then raise at least 50 basis points in December.
Gold price fluctuated slightly tonight; silver price fell back under pressure; US WTI crude oil continued to fluctuate and rebound after being supported, with room for medium-term rise.
Technical analysis
Spot gold
Gold price today's price fluctuates and pulls back from the high point of 1725 above; 1-hour technical indicator MACD dead cross sticks; it is recommended to focus on the support of the 1695 line below in the future. If this support is effective, gold will continue to rise to the 1730 line. On the contrary, if this support is effectively fall below by , it may fall to a new low again in the future.
intraday trading strategy:
long order: try to go long near 1695, stop loss 1690, target near 1715 and 1730.
Short order: Try short near 1735, stop loss 1740, target 1710 and 1700.
spot silver
s silver price fluctuated and pulled back from the high of 20.85 to around 20.42; the 1-hour technical indicator MACD fell; it is recommended to focus on the support at the 19.90 line in the future. If this support is effective, gold will continue to rise to the 21.20 line. On the contrary, if this support is effectively broken, it may fall to the previous low again in the future.
intraday trading strategy:
long order: try to go long near 19.90, stop loss at 19.60, target around 20.20 and 20.50.
US crude oil
US crude oil price fluctuates back and forth from the high point of 87.99; the 1-hour technical indicator MACD is stuck in a dead cross. It is recommended to focus on the support of 84.00 in the early stage. If this support is effective in the future, gold will continue to rise to the 88.00 line. On the contrary, if this support is effectively broken, it may fall to the previous low again in the future.
intraday trading strategy:
short order: near 84.00 try to go long, stop loss 83.20, target around 87.00 and 88.00.
Europe vs. USD
Euro versus USD 0.9925 from the upper high point 0.9925; the 1-hour technical indicator MACD fell; it is recommended to focus on the support of the 0.9820 line in the future. If this support is effective, the euro will continue to be under pressure and hit the previous high point 1.0000 line; on the contrary, if this pressure is supported and effectively falls below, the market will continue to hit the lower low.
intraday trading strategy:
long order: near 0.9820 try to go long, stop loss 0.9780, target 0.9950, 1.0000.
USD versus Japanese Yen
USD versus Japanese Yen fluctuated and rebounded from the low point of 144.37 below; the one-hour indicator MACD golden cross sticks, and the US market will focus on the pressure at the 145.00 line above. If the price rebounds to this pressure near this pressure, it can be considered to try short.
intraday trading strategy:
short order: try short around 145.0, stop loss 145.50, target around 143.90 and 143.40.
