Gold was hit by the rapid decline of the three major US equity indices before the close on Friday (20th), eventually reaching around $ 1516 / ounce. In the short term, the gold trend hovered under pressure of $ 1,500 / oz. However, he remains optimistic about the future bull market. The megatrend is likely to reach a new high. Last week, the Federal Reserve (Fed) again cut interest rates by 1 yard (0.25). %), but the dot-matrix chart shows that there will be no interest rate cuts by the end of this year, and there are differences in the Committee's internal interest rate cuts, causing the gold market to fall below $ 1,490 an ounce. Above the ounce, this also means that the Fed has the potential to continue rising, even if it does not subside any more.
Another focus is that US President Trump, following a heavy attack on the Saudi Arabian oil factory on the 14th, has agreed to allow US troops to join the 20th to bolster air defense capabilities in the region, and Washington believes that the US Attack was launched by Iran. US Secretary of State Pompeo said the United States was determined to avoid military conflicts with Iran. The increase in troops in the Gulf should deter and defend. This has exacerbated tensions in the international situation and increased the demand for gold in safe havens. ,
Forex – Technical Analysis (Gold XAUUSD):
Today's foreign exchange gold (September 23) was around $ 1513.6 / ounce in the morning. The technical analysis shows that the 1-hour observation continued to increase in line with last week's forecast (September 20), but to fill the current K-bar because of the gap ups and downs are at high risk Therefore, there is the possibility to cancel the correction and then rise again.
Currently, the pressure range above the short-term limit is $ 1524 to $ 1524.5 / ounce. Downstream, the initial support range is $ 1507 to $ 1507.5 / ounce. The operational mentality is predominantly short. Investors who want to enter the market for a short time may consider the price of $ 1511. To buy a light bearing for 1513 USD / oz, the MT4 stop-loss can be set below 1508.5 USD / oz.
Forex – Technical Analysis (EUR / USD EURUSD):
Today's FX EUR / USD (September 23) Early in the morning against 1.10156, as measured by the technical analysis, the 1-hour observation trend is consistent with last Friday's forecast (September 20), and the upper pressure has been withdrawn to correct , and the current low has recovered. Therefore, there is the possibility of rebound and fall again.
Currently, the pressure range above the short-term line is 1.10400 ~ 1.10450, the downside support interval is 1.99900 ~ 1.09950, and the operating mentality is mainly short-term. Investors wishing to enter the short-term market should consider between 1.10300 and 1.10330 to buy. It can be assumed that the MT4 operating stop loss point is above 1.10400.
Forex – Technical Analysis (GBP / USD GBPUSD):
Today's Foreign Exchange Sterling / US Dollar (September 23) Early in the morning at 1.25659, from the technical analysis, the 1-hour line observation trend is pretty much a long position, the high point still high to hit the low point higher and higher, so there is the chance rose again after a slight correction.
Currently, the pressure range above the short-term line is 1.25850 ~ 1.25900 down. The initial support range is 1.24550 ~ 1.24600. The operational mentality is mainly short. Investors wishing to enter the market for a short time should consider buying between 1,24850 and 1,24900. The MT4 operation stop loss point can be considered to be set below 1.24680.
Forex – Technical Analysis (NZD / USD NZDUSD):
Today's Currency NZD / USD (September 23) Near 0.62638, as measured by technical analysis, the trend to observe the 1-hour line level continued to be short. You can see that it has fallen below the previous belt low, so there is a chance to break the ground. After the rebound, the pressure dropped.
Currently, the pressure range above the short-term line is 0.63000 ~ 0.63050 down. The initial support interval is 0.62500 ~ 0.62550. The operative mentality is mainly short-term. Investors wishing to enter the short-term market should consider buying between 0.62850 and 0.62890. It can be assumed that the MT4 operating stop loss point is above 0.62930.
Today's key data:
1. France PMI start value for manufacturing in September
2. Initial value of the German purchasing managers index in September
3. Initial value of the Eurozone PMI in September
4. Canada's monthly wholesale sales in July
5. Initial value of the US September Markit Manufacturing PMI
6. US September Markit PMI initial value for the services industry
For more details, see Forex and MT4