On Thursday, oil prices rose sharply, and some major oil-producing countries have succeeded in reducing production. At the same time, the International Energy Agency expressed its expectation of a recovery in energy demand, which also boosted the market's optimism. With production shrinking and demand recovering, oil prices have recorded a three-week rise. Goldman Sachs even said that oil prices have bottomed out and there will be a shortage of supply in June. However, some institutions still warn of the risk of the second spread of the epidemic, while the downward pressure on the global economy is still suppressing the demand for crude oil.
The analysis of the main currency pairs and the trend of gold and crude oil is for reference only!
EUR / USD
The whole of Europe and the United States still revolves around the US index in reverse. Within the day, we continue to focus on 1.0820 and 1.0850 short-pressure tests, below we focus on 1.0770 short-term support, and 1.0730-00 support tests. Operationally stable people will wait and see for a while, and aggressively can light up short positions at 1.0820-30 with a stop loss above 1.0850. Under the target, look at 1.0780 / 70 to lighten up and change the capital to protect the stop loss. At the same time, the backhand stroke can be much shorter near 1.0730-00.
GBP / USD
Pound United States oscillated at a low level yesterday, puncturing the 1.2200 support. The daily line recorded a Yinxing line with a lower shadow. The current market is still under pressure on the 5th line. The short-term market is weak, but the previous low point has not broken, so The short-term trend is not very predictable, so it is appropriate to choose to wait and see for the time being.
USD / JPY
The United States and Japan borrowed 106.8 support yesterday and rebounded, measuring pressure to around 107.4. The Japanese line recorded a small positive, basically stabilizing the moving average support. At present, the overall volatility of the United States and Japan is not very large, and the market is still oscillating near the moving average zone. The uncertainty is relatively large, so it is advisable for the stable to wait and see.
Yesterday, gold first oscillated around 1710-20. After the market hedging sentiment revived in the late trading hours, gold appeared a wave of upsurge, broke through the pressure of 1720-23, and the upper pressure was measured to around 1736. The daily line closed a little positive . On the daily structure, the strength of the Yang line yesterday was acceptable. The most important thing is that the Yang line broke through the upper pressure of the triangle area 1720-23, which technically means that the triangle market oscillating market that has lasted for nearly one month is over, or it will open a new A round of recovery. If it breaks in accordance with the triangular interval, the target area above can be viewed on the basis of 1720 as 30, 70, and 90 US dollars as the three main targets of the future recovery trend, combined with the previous highs near 1747-50, temporarily look at 30 US dollars Space is also a relatively reasonable key target, so in the current situation where the big triangle has confirmed a breakthrough, the short-term need to change the way of thinking is mainly bullish, focusing on the stress test near 1750 above. It should be noted that the current daily results are three consecutive suns, and today may be expected to close again, but also note that the daily indicators overbought and short-term bullish momentum may be consumed and may lead to repair pressure, so the upper part of the day is for the previous period. There are also concerns about the second highest point of 1740.
Oil prices continue to rise, the demand brought about by the economic recovery has increased, intraday oil prices continue to record highs, high sales and low absorption as an important principle, approaching the weekend, proceed with caution.