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market analysis
8.18 Gold market trend forecast and latest operation suggestions guidance layout
Wonderful introduction:
A person's happiness may be false, and a group of people's happiness cannot tell whether it is true or false. They squandered their youth and wished they could burn it all, and that posture was like a carnival before the end of the world.
Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Market Review]: 8.18 gold market trend forecast and latest opening operation suggestions guidance layout". Hope it will be helpful to you! The original content is as follows:
Written for you who are investing, first, you must know how to analyze a market trend in the market; second, you must know how to control risks. As an investor, you must maintain a good mentality. You must rely on seven-point mentality and three-point technology to do foreign exchange. Positive people see an opportunity in every distress, while negative people see a certain kind of anxiety in every opportunity. In the face of violent fluctuations in the market, we must seize every opportunity. What is important in foreign exchange investment is not how much you can make at one time, and when you find that the profits of multiple times are not enough to make up for a loss, perhaps you will understand the importance of stability. If you want to gain a long-term foothold in the international market of foreign exchange, it is not luck. We will work hard together on the road to investment!
Gold market trend analysis:
Gold news analysis: On Friday (August 16), spot gold rose strongly and broke through a historical high, and it is currently trading at $2,507.60 per ounce. Gold prices fluctuated on Thursday, with an intraday high of around the 2470 mark, but due to strong performance of initial request data and "terror data", U.S. Treasury yields rose, and gold prices fell to around $2432 at one point. They were then supported by dips and safe-haven buying, closing at $2456.35 per ounce. "Retail sales are so optimistic that the economy is strong, which somewhat changes the market, the dollar is returning to rising, and gold is losing some of its luster," said Chris Gaffney, president of global markets at EverBank. The U.S. Department of xmtraders.commerce said U.S. retail sales rose 1.0% last month, while data in June was downgraded to a 0.2% decline. In addition, a U.S. Department of Labor report shows that new Americans applying for unemployment benefits in the week ending August 10 were reported by the U.S. Department of Labor.The number is 227,000, and the estimated number is 235,000. After the U.S. data was released, the dollar rose by 0.4%, making gold more expensive for holders of other currencies, and Treasury yields jumped, with two-year Treasury yields rising, marking the biggest single-day gain in about four months. The 10-year Treasury yield hit its biggest gain in weeks. Meanwhile, two Fed officials expressed support for the possibility of a rate cut at next month's policy meeting, reversing their previous skepticism about prematurely reducing borrowing costs. According to CME FedWatch tools, the market believes that the probability of a U.S. rate cut in September is 100%. However, strong data have excluded the possibility of a 50 basis point cut.
Gold technical analysis: From the daily gold trend chart, gold decline is discontinuous, and violent fluctuations are also a process of consumption of adjustment. If it does not continue, it means that there is still high demand. Gold broke new highs again, further pushing up the new gold price range. In four hours, the Bollinger Band opened upwards, and the gold price ran above the middle and upper tracks. After breaking down, it did not continue. Instead, it fluctuated and reached a new high, further indicating that the bulls were very strong. The bulls were expected to continue in the future, but there was an oversold area on the indicator, and the future market was likely to have a chance of adjusting first and then rising. Based on the above analysis, He Bosheng believes that gold has risen and broken through, and gold prices have risen to a new height again. Therefore, gold's operating ideas next week recommend that it mainly retraces low-long and rebounds high-altitude as supplements. The short-term focus on the resistance of 2520-2530 in the upper short-term focus on the support of 2490-2480 in the lower short-term focus on the support of 2490-2480 in the lower short-term focus on the support of 2490-2480.
Crude oil market trend analysis:
Crude oil news analysis: During the US market on Friday (August 16), international oil prices fluctuated and fell in a narrow range. The US crude oil October contract is currently trading around US$75.41 per barrel. Oil prices rose more than $1 on Thursday as U.S. economic data eased concerns about the world's largest economy falling into recession, but concerns about slowing global demand limit gains. Adam Button, an analyst at Forexlive, said Thursday that both U.S. retail sales reports and Walmart executives stressed strong U.S. consumption, and Walmart executives said global consumers were in good condition. If so, consumption at gas stations may remain stable, thus supporting gasoline demand. Technically, oil prices are consolidating after testing $72 for the second time in the past three months. This test looks successful, but it needs to rebound above $84 to generate some real upward action. The most bullish indicator is position, with net longs at or near record lows. Positive signs of inventory, demand and even the Middle East conflict could lead to supply tightness. Data released by the U.S. Department of Labor on Wednesday showed that U.S. consumer prices rose only modestly in July. This strengthens expectations for the Fed's interest rate cut next month. Rate cuts may boost economic activity and oil consumption. Federal Reserve Chairman Powell is scheduled to speak on the economic outlook next Friday (August 23), the first full-day meeting of the Kansas City Fed’s annual economic seminar in Jackson Hall, Wyomingday. This annual meeting of global central bank governors provides Powell with an opportunity to make the latest assessment of the U.S. economic trajectory and monetary policy outlook between the Federal Reserve's July and September decision-making meetings.
Crude oil technical analysis: Crude oil has been continuously negative on Wednesday and Thursday after the daily line in the early week. Whether it can continue to close positive today is the key; if it cannot close positive, it will continue to continue to close negative again, it will enter a weak oscillation pattern and repair the previous increase; the bullish support of the platform near 76 or even 75 may be continued. Before this, the watershed of the strong and weak market conditions of the 78 line needs to be paid attention to. This is also the 5 moving average. It will be the key to the market. The resistance above is 79.3. For the moment, look at the breaking range, increase the bullish or bearish signals, wait for the next support or pressure, and shorting around 80. It is expected that before the stand above 80.3, before falling below 76, crude oil fluctuates wide within this range. The specific operation is mainly in the real-time intraday points, and the positions of major moving averages will change over time. Overall, in terms of crude oil's operational ideas next week, He Bosheng recommends that rebound high altitudes should be the main focus, and the retracement should be the low long as the auxiliary. The short-term focus should be on the 76.5-77.0 line resistance at the top in the short term, and the short-term focus should be on the 74.5-74.0 line support at the bottom.
This article is exclusively planned by Gold Crude Oil analyst He Bosheng. Due to the delay in online push, the above content is personal advice. Because the online publication is timely and the suggestions in the article are for learning reference only, and the risks of operating based on this are at your own risk. No matter whether the views and strategies of the article are consistent with everyone's opinions, you can xmtraders.come to me to discuss and learn! There is nothing difficult in the world, I am afraid of those who are determined. Investment itself carries risks, reminding everyone to identify the authoritative platform and the strong teacher. Fund safety is the first priority. Secondly, consider operational risks, and finally how to make a profit!
The above content is all about "[XM Foreign Exchange Market Review]: 8.18 Gold Market Trend Forecast and Latest Opening Operation Suggestions Guidance Layout". It was carefully xmtraders.compiled and edited by the XM Foreign Exchange editor. I hope it will be helpful to your trading! Thanks for the support!
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