On Friday (October 28), the US dollar continued to be weak during the Asian and European period, and is currently struggling at the 110 mark, and there is still a demand for the 109 mark to be measured within the day. Gold is currently fluctuating in the 1665 USD area of , and the new round of breakthrough trend is waiting. The number of initial unemployment claims in the United States is still at a low level. European Central Bank as expected. euro weakened after . U.S. index rebounded from a low of more than a month, putting pressure on gold prices; however, US demand stagnates. The market expects that the Fed hike in December will drop to 50 basis points. U.S. bond hike rate hike continues to fall to a new low in the past two weeks, and still provides support for gold prices. The gold K-line recorded a cross star on Thursday, and the short-term trend of increased, but it still slightly tended to bulls. The market will pay attention to the US PCE data in September this trading day. Currently, the market expects core PCE prices to increase by 25.2% year-on-year, which is expected to provide support for the Federal Reserve's interest rate hike of 75 basis points next week, slightly inclined to negative gold prices.
U.S. Commerce Department released the third quarter GDP data on Thursday. The report showed that the US economy grew by 2.6% year-on-year in the third quarter, rebounding due to two consecutive quarters of shrinkage in the first half of the year. The economic downturn in the first half of the year sparked debate over whether the United States has fallen into recession. The negative GDP recorded for two consecutive quarters was in line with an ancient but informal rule of thumb for recession. But these two declines are the result of abnormal changes in the trade deficit of and the stock of enterprises. As the main engine of the economy, consumer spending has remained relatively stable this year. Spending growth rate in the third quarter was 1.4%. The official recovery of U.S. economy is on the eve of a key congressional election in the fall. However, economists warn that the good news may not last long, and most people now believe that the recession will arrive next year.
The benchmark 10-year U.S. Treasury yield, which had previously risen for 12 weeks, finally began to fall from a high level. The performance of weak economic data has caused U.S. Treasury yields and the US dollar to fall in a high downward trend. Analysis said that whether the market's policy on hawkish arguments of the Federal Reserve can continue, has shown a wavering signal. As the full impact of the Federal Reserve's past and future interest rate hikes has not yet appeared, the economy seems to be in a mild recession in the first half of next year, especially when seeing the housing data warning of excessive tightening concerns, the 10-year U.S. Treasury yields fell first, which also provided gold with a brief uptrend support.
Technology, Gold released the GDP data on the United States on Thursday, and the gold price was bad. The rise of gold was interrupted and fell to the $1654 position for a time, touching the lifeline point of the short-term bulls. The gold price rebounded, but the high point was restricted, which was restricted in the $1665 area. By the closing period, gold still failed to effectively break through the $1665 resistance. The daily chart was negative cross-star closing. On the trend of ml4, gold prices have been continuously recorded at high levels in the short term, and the K-line of the upper shadow line of closed, indicating that the selling pressure above is difficult for the bulls to effectively break through in the short term, and increase the risk of a new decline. The rebound lifeline point of the $1,655 below, once it falls below, the rebound trend of this route ends and there is a risk of falling to $1,636. until the press time, gold is currently running in a small box built by $1,665-1,658, and fluctuates downward. There is a short-term demand for US$1,652 during the day. Once it falls below US$1,652, it is further confirmed that the of US$1,655 effectively fell below . RSI system shows that the indicator continues the downward trend of the downward track at the central axis position, and the fast and slow lines above are further bonded. Once falls below $1,652, it will form a new round of top resistance position. The high above continues to move downward, and there is a risk of expanding the decline during the day. In the large cycle, the gold weekly chart cross star is expected to close this week. The price of gold is under pressure at the downward trend line of $1,658. As the gold price rebounds gradually downward, the short-selling downward trend of the upper weekly moving average system is more firm. Gold cannot close above $1,662 in the day, and the rise this week is basically exhausted, and then returns to the trend of short-selling control. The gold price will risk falling to $1,636 again next week. In terms of operation, the main short orders are rebounding in the day.
day gold and euro trading strategy
1, above $1662 and $1658 entered short orders, stop loss 1666 yuan, take profit to see US$1650.
2, below 1648 US dollars and 1653 US dollars enter long orders, stop loss of US$1645, take profit of US$1662.
3. The European Central Bank raised interest rates as scheduled on Thursday, and then the euro rose and fell back to , failing to break through the resistance of 1.01 again. The euro has a demand for falling to 0.988 again. In terms of operation, trading around 0.998--0.988 during the day.
4, A-share market has been in the pattern of 7 falls, 2 rises and 1 flat. Investors can add the A50 index (CHI50 index) in the trading list index column. This index is synchronized with A-share Shanghai Stock Exchange, effectively improving the risk that the stock market cannot hedge short.
====The above content is for reference only. The market is risky, so be cautious when investing====
