Fx trading Review: The international epidemic made the market risk sentiment strong, crude oil accelerated, gold stopped falling and rebounded!
2020-02-27 11:20 from：CAPSTONE author：Jack
Capstone forex trading Review of yesterday:Risk aversion remained strong on Wednesday, with precious metals markets and U.S. Treasuries being favored. Affected by the profit-taking of traders and the influx of safe-haven funds, gold fluctuated widely on Wednesday, falling as low as 1,624.89 US dollars per ounce, and as high as 1,650 US dollars, with the maximum fluctuation range reaching 30 US dollars. The yield on 30-year US Treasury bonds fell to 1.807%, which was close to an all-time low. In the oil market, the two oil companies continued their declines in the previous few trading days. The performance was extremely weak during the day. Before and after the opening of the US stocks, the two oil companies rebounded briefly, but they accelerated their decline very quickly. 3%.
In the currency market, the US dollar index started to rebound after falling for three consecutive trading days, and closed slightly above the 99 mark. The currency trends of countries affected by the epidemic remain weak, such as the Japanese yen and European currencies.
Capstone forex trading Today's analysis:
(Europe and the United States M30)
Europe and America:
Tonight at 21:30, the United States will announce the revised annualized quarterly rate of real GDP in the fourth quarter. In 2019, the Fed has cut interest rates many times to save the market. This economic data will show the boost effect brought by the Fed's rate cuts to a certain extent. If the data is still underperforming, the Fed may further strengthen its judgment on the decline in the effectiveness of monetary policy or launch more "alternative" easing measures. However, if the data indicates a good one, the market's rate cut is expected to be suppressed. The upper pressure level is 1.0925, 1.0957, 1.0986, the lower support level is 1.0856, 1.0833, and the dips above the support level are mainly dominated.
EUR / USD trading strategy:
Strategy 1: Do more on dips (19 points)
Entry: 1.0875 Stop Loss: 1.0856 Take Profit: 1.0894
Strategy 2: Go short (19 points)
Entry: 1.0856 Stop Loss: 1.0875 Take Profit: 1.0837
According to the Washington Post, the Centers for Disease Control and Prevention (CDC) has reported the first case of unknown coronavirus infection in the United States. This news sparked external concerns about the U.S. epidemic, and the market's risk aversion was rapidly heating up. From the daily K chart, after a recent continuous rise in gold, a certain degree of retreat began. After fully releasing the risk in the short term, after 1620 front-line support was obtained, the bottom-up funds poured into the safe-haven assets again, causing gold to re-collect. Out of the Yang line, further upward within the day. The upper pressure levels are 1654, 1659, and 1663, and the lower support levels are 1643 and 1631.
Capstone forex trading Focus on the data today:
Eurozone economic sentiment index in February
U.S. January durable goods orders monthly rate
Number of U.S. unemployment claims (10,000 people)
U.S. January existing home sales contract index monthly rate
Cleveland Fed Chairman Meister speaks
[Capstone forex trading 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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