Capstone Forex Trading Online : The global trade situation
2019-12-04 09:58 from：CAPSTONE author：Jack
Capstone Forex Trading Online : The global trade situation has taken a turn for the worse, the demand for gold hedges has expanded and the U.S. Index has reached a new low for a week and a half!
Capstone Forex Trading Online Review of yesterday:
On Tuesday, due to the uncertain increase in the global economic and trade situation, the API report and the related dynamics of the OPEC conference, gold oil rose. Among them, gold began to rise on the afternoon of Tuesday, rising all the way from around 1460 US dollars per ounce to 1481.61 US dollars per ounce, refreshing a new high since November 7 and rebounding by more than 20 US dollars from a daily low, and then a slight decline. In terms of crude oil, the two oil companies originally stepped out of an inverted "V" trend, and then rose due to unexpectedly lower than expected API data, and quickly recovered the daily decline. Subsequent rumors of the OPEC conference further helped to increase oil prices.
In the foreign exchange market, affected by the economic and trade situation and the weak manufacturing data in the United States, the US index fell to a week and a half low, and most non-US currencies rose.
Capstone Forex Trading Online Today's analysis:
(Europe and the United States M30)
Europe and America:
Today at 21:15, the United States will announce the number of US ADP employment in November. The small non-agricultural data in October recorded an increase of 125,000, and the investment bank ’s expectations for the small non-agricultural data in November rose to 140,000. In addition, the euro area and the United States will release data on multiple manufacturing industries. Weakening manufacturing will also affect inflation. Given that inflation and employment are two of the most important reference data for decision-making by the European and American central banks, and the global economic slowdown, the weakness of the manufacturing industry has become a major contributing factor to the current market worries. Investors should pay attention to this. At present, the consolidation trend is maintained within the interval. After breaking through, the intraday direction can be established. The intraday upper pressure levels are 1.1088 and 1.1140, and the lower support levels are 1.1065 and 1.1040.
EUR / USD trading strategy:
Strategy 1: Go long and go long (23 points)
Entry: 1.1088 Stop Loss: 1.1065 Take Profit: 1.1111
Strategy 2: Go short (23 points)
Entry: 1.1065 Stop Loss: 1.1088 Take Profit: 1.1042
In terms of gold:
During European time, spot gold stood at $ 1,470 per ounce. Safe-haven demand picked up, and gold hit a new high for a week and a half. As the trade situation changed again, the market changed from optimistic expectations to full pessimism. Weak US economic data has weighed on US stocks and the US dollar, with the US dollar index hitting a week-and-a-half low. Technically, the continuation of the bearish trend in gold prices depends on the price of gold remaining below $ 1489.00 per ounce. Once the gold price breaks through $ 1489.00 / ounce, this will push the gold price back to the main bullish trajectory, with the first bullish target at $ 1535.00 / ounce, and then $ 1556.70 / ounce. If it falls below $ 1,447.00 per ounce, the price of gold will continue to be bearish, with the next target at $ 1413.10 per ounce.
Capstone Forex Trading Online Focus on the data today:
U.S. November ADP employment
U.S. Markit service PMI final value in November
Bank of Canada announces interest rate resolution
U.S. November ISM Non-Manufacturing Index
U.S. to week EIA crude oil inventories (10,000 barrels)
Federal Reserve Governor Quars attends House hearing
[Capstone Forex Trading Online Disclaimer]:
This analysis and trading strategy is an objective description of the current market trend. Investors need to strictly follow the trend, light positions, and stop losses! Orders cannot be completely based on trading strategies, only for reference!
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