Because of the decline of the US dollar index, although Fed officials have downplayed the prospect of negative interest rates, which once favored the US dollar, after all, negative interest rates are no longer a restricted zone that investors can never imagine, and American consumers and companies must adapt to the profoundly changing economic environment. Investors' concerns about the second outbreak of the new crown epidemic have also heated up the demand for gold hedging.
The analysis of the main currency pairs and the trend of gold and crude oil is for reference only!
EUR / USD
The overall trend of Europe and the United States is greatly affected by the fluctuations of the US dollar index. At the top of the day, we continue to pay attention to the pressure of 1.0900 and the bottom to the support test of 1.0800. We will wait and see for a while, and aggressively carry out short-term low and high altitudes around the above range.
GBP / USD
Pound United States shocked and rebounded yesterday. After measuring around 1.2380, it fell back again, and retreated to around 1.2250. The daily line closed again with a negative line. At present, the daily moving average crosses downwards, and the performance of the daily structure is still very weak. Although there is a 1.2250-00 support band below, it is also a very big problem how to get the rebound kinetic energy from the market. A steady wait-and-see during the day, continue to focus on 1.2250, 1.2200 support below, 1.2300, 1.2350-70 short pressure above.
USD / JPY
The US and Japan went higher yesterday to measure pressure to around 107.8 and then under pressure repaired. The bottom retreated to the expected support 107.2-0 area. The daily line closed a small Yin line, which is a digest of the previous day's market. According to the current daily structure, the probability of the US-Japan trend will continue to fluctuate, continue to focus on the pressure of 107.8-108 at the top, and the support test near 107 below, and choose to wait and see steadily, and aggressive can light up in the above range. .
Gold rebounded yesterday after retreating at 1693, but it rebounded again above 1700 during the European session due to the dollar's repair. In the evening, the U.S. President expressed support for negative interest rates, which triggered gold to rebound further and weigh 1710, but then the rebound did not. After the continuation, it was repaired under pressure, and then measured around 1700. Finally, the daily line received a small sun star line and closed near the moving average zone. On the daily structure, gold as a whole still runs in the interval of the big triangle, and is in the middle of the region. As the triangle gradually narrows, the uncertainty of the short-term market will further increase, and the current market is in the average band and 1700 integer Oscillation near the bit, which has exacerbated the uncertainty in the short-term direction. In the second half of the week, gold may appear to break the triangle. As to which side to break, this is the biggest unknown in the short term in the future, because in the current state The probability of breaking up and breaking down are equal, and because of this situation, there may be repeated competition for short-term trends in the future, which is also a great test for operation.
US oil reached a record high of 22.20 yesterday, which is a new high in these days. The market is still trending upwards, forming effective support by stepping back, and continue to be long lows in the day to guard against the downside risk of crude oil.