Fx trading Review: The wave of interest rate cuts hits a six-year high for gold. Today, the non-agricultural market announced anxiety or renewed short US dollar!
2020-03-06 14:56 from：CAPSTONE author：Jack
Capstone forex trading Review of yesterday:
Risk aversion rekindled, and gold rose all the way on Thursday, rising from below 1,640 US dollars to above 1,670 US dollars, fluctuating nearly 40 US dollars within a day, and once refreshed a week high. As of the close, gold rose 2.15% to $ 1671.84 per ounce; in the oil market, OPEC oil producers agreed on Thursday to reduce output by 1.5 million barrels per day in the second quarter, but this did not support rising oil prices, and Russia still has uncertainty . After the short-term rise in oil prices, oil prices continued to fall, and oil once fell below the $ 50 mark. As of the close, WTI crude oil fell 2.52% to $ 45.97 / barrel; Brent crude oil fell 3.02% to $ 50.02 / barrel, staying close to the $ 50 mark.
Affected by the deterioration of the U.S. epidemic situation, the US dollar index fell sharply on Thursday, the 97 mark has fallen, and finally closed at 96.60, a decline of 0.79%. The British pound continued its previous rally and the euro remained firm.
Capstone forex trading Today's analysis:
(Europe and the United States M30)
Europe and America:
The US non-farm payrolls will be announced on Friday at 21:30. Due to market concerns that the negative impact of the epidemic has penetrated into the employment level, the market is expected to increase the number of employed people by 175,000, which is much lower than the previous increase of 225,000. In addition, the US unemployment rate in February was expected to be 3.6%, unchanged from the previous value. Investment banks generally are not optimistic about non-agricultural data this month. The data market in the day will have large fluctuations. The upper pressure levels are 1.1250 and 1.1286, and the lower support levels are 1.1191, 1.1172, and 1.1156. The dips above the support level are mainly based on the dips.
EUR / USD trading strategy:
Strategy 1: Do more on dips (28 points)
Entry level: 1.1200 Stop loss level: 1.1172 Take profit level: 1.1228
Strategy 2: Short break (28 points)
Entry: 1.1172 Stop Loss: 1.1200 Take Profit: 1.1144
Today, five Fed officials took turns to take part in their attitude towards another interest rate cut in March. Fed Williams spoke at 09:45 on Friday; Fed Evans and Meister attended the meeting at 22:20 on Friday; Fed Williams and Rosengren attended the meeting at 03:00 on Saturday. Analysis believes that they will undoubtedly maintain the Fed ’s previous 50-bps emergency rate cut in their speeches, but the real focus is on whether they see the possibility of a sharp deterioration in the economic outlook and whether there is any mention of further stimulating the economy Need. Affected by the interest rate cut expectations, gold will continue to maintain a continuous bullish trend, with the pressure levels at 1677, 1684, 1689 and support levels at 1657, 1650.
Capstone forex trading Focus on the data today:
French January trade account (100 million euros)
UK Halifax seasonally adjusted house price index monthly rate in February
U.S. January trade account (US $ billion)
U.S. unemployment rate in February
U.S. non-agricultural employment population after seasonal adjustment in February (10,000 people)
U.S. January wholesale sales monthly rate
[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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