Fx trading Review: Crude oil hits U.S. stocks directly, and today ’s Euro data may be weak. Beware of callbacks!
2020-03-10 10:12 from：CAPSTONE author：Jack
Capstone forex trading Review of yesterday:
On Monday, the oil market staged a major earthquake. The two oil companies opened sharply lower. The oil distribution fell by 31% within a few seconds, and WTI crude oil futures also fell more than 22% at the opening. In the Asian session, the decline in oil prices widened, and US oil fell below the $ 30 mark, hitting a minimum of $ 27; cloth oil fell at least $ 31. Although the two oil markets narrowed their losses to less than 20% during the European and American markets, they still did not prevent their closing to hit the largest one-day drop since the Gulf War in January 1991. Gold maintained a wide range of shocks on Monday. It opened above the $ 1,700 mark in the morning and continued to hit a new 7-year high. After peaking, it fell below the five major integers in a row, falling back over $ 40 and hitting a minimum of $ 1656. It then turned up again and fluctuated in the range of $ 1660-1680.
The currency market also caused a big storm. The US dollar index continued to weaken, and once fell below the 95 mark in the US session; commodity currencies such as the Australian dollar, Norwegian krone, Russian ruble, and Mexican peso were sold off, while the pound and the euro were boosted. The Australian dollar and the New Zealand dollar fell more than 4% at one time, and then fully recovered their losses. The yen was favored due to its safe-haven nature, and the dollar fell 3.5% against the yen and broke the 102 mark.
Capstone forex trading Today's analysis:
(Europe and the United States M30)
Europe and America:
Today, the euro area will announce the quarterly adjusted quarterly employment rate and the fourth quarter GDP annual rate correction. The data has not yet been priced. The impact of the epidemic is also weak. Slipped to its lowest level in seven years), the possibility that the data is less than expected is very high, and the euro may be suppressed. During the day, the upper pressure levels are 1.1447 and 1.1485, and the lower support levels are 1.1373 and 1.1305. Short-term short orders below the pressure level are the main ones.
EUR / USD trading strategy:
Strategy 1: Go short on rallies (49 points)
Entry: 1.1398 Stop Loss: 1.1447 Take Profit: 1.1349
Strategy 2: Go long and go long (49 points)
Entry: 1.1447 Stop Loss: 1.1398 Take Profit: 1.1496
Judging from various signs, risk aversion still dominates the market and has become a big plus for gold. However, the short-term plunge in gold yesterday must have frightened many bulls. Some analysts believe that $ 1,700 may become a temporary top of gold, and profitable closing may even bring the price of gold back to the level of $ 1,640, which is a normal pullback in the overbought market. Once gold gains support, it may undergo a period of consolidation before it hits a new high. The upper pressure levels were 1680 and 1687, and the lower support levels were 1661 and 1651 and 1642.
Capstone forex trading Focus on the data today:
China's February CPI annual rate
French monthly industrial output rate in January
Eurozone Q4 GDP Annual Rate Correction
U.S. February NFIB Small Business Confidence Index
U.S. API crude stocks for the week (10,000 barrels)
[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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