On Friday (May 22) in Asian markets, the US dollar index remained basically stable at around 99.45. Spot gold rebounded slightly. It is now reported at around US $ 1728 per ounce. The price of gold plunged more than US $ 20 on Thursday. From a technical perspective The outlook for the gold price outlook may not be optimistic. In terms of news, the Bank of Japan announced the latest interest rate resolution. The central bank announced that the interest rate will remain unchanged. After the resolution was released, the dollar / yen fell by about 20 points in the short term. In terms of the global epidemic situation, the cumulative number of newly diagnosed cases of new coronary pneumonia has exceeded 5.19 million cases, and the cumulative number of confirmed cases in the United States has exceeded 1.62 million.
The analysis of the main currency pairs and the trend of gold and crude oil is for reference only!
EUR / USD
Yesterday, Europe and the United States pressured to above 1.1000 as expected, and then under pressure to repair, fell back to around 1.0940, the daily line closed a negative line. According to the structure of the daily and hourly charts, the intra-day market may require further repairs and adjustments. The focus is on the 1.0900-0880 support belt test below, and the 1.0960 short pressure above.
GBP / USD
Pound United States basically oscillated around 1.2200 yesterday. The daily line received a small Yinxing line. The short-term market side structure makes it difficult to identify the direction. Therefore, Pound United States temporarily chose to wait and see.
USD / JPY
The U.S. and Japan sideways fluctuated in a narrow range, and the short-term direction was unclear.
Yesterday, gold continued its shock retracement around 1730, and then rebounded. However, the pressure measurement of the 1740 line was once again blocked and repaired, and the decline in the evening increased. The lower part once pierced around 1720 to 1717, and the market stopped in the middle of the night. It rebounded, but the kinetic energy was stretched, and the daily line finally closed a Yin line.
On the daily structure, yesterday the Yin line broke through the 5-day moving average, and there was a piercing action on the 10-day line. The technical adjustment is still acceptable. Under the influence of this Yin line, the short-term market may be extended to a certain extent. The bottom of the day continues to focus on the 10th line 1726/25 contention, considering that the overnight market has punctured the 10th line, and the key support of the previous 1720 is also punctured, so in the short term, the market may be further down to 20. The possibility of finding support near the daily line. Above, you need to pay attention to the 5-day pressure test. As long as the market fails to return to the 5-day line, the short-term market may continue to be repaired. However, there is currently a large variable risk in the overall structure of the daily level, because 1720 is the breakthrough point of the previous triangle shock, and it is also a 5-week moving average support level. If the market today returns below this level, the previous triangle breaks through The end may be declared, and adjustment pressure at the weekly level will increase. And if it does not return below 1720 today, the market is oscillating in the area of the daily average, which is also unfavorable for the short-term market, the direction is unclear, and the difficulty of operation will increase, so be careful during the day.
Oil prices plummeted, there was overbought phenomenon, the actual demand in the global economic market was overestimated, and the economic recovery under the epidemic was slow. It is recommended to sell high and sell low, and exercise caution.