07/27 Market report

【Dow Jones】

The three major U.S. stock indexes all fell on the 26th, and Walmart lowered its financial forecast, causing a sharp drop in retail sales. The Federal Reserve of the Federal Reserve began to hold a two-day set policy meeting. The results should be known on the morning of the 28th Asian time. In addition, the U.S. consumer confidence index in July was poor and hit a five-month low.

Among the technical indicators of the daily line of the Dow Jones industrial average, Alligator shows a gold cross, while the short-term KD shows a death cross. Although the indicators of length are contradictory, the consolidation pattern of the Dow Jones industrial average is quite obvious, waiting for a breakthrough after the U.S. dollar interest rate resolution this morning.

USA30: Uptrend

PricePoint：31502

Current transactions: multiple orders held with targets at 32000 and 32200

Alternative: Set 31200 to 31000 as targets after the price hit 31502

Comment: The RSI value of 57.41% is too high.

【Euro】

The International Monetary Fund (IMF) again lowered its global economic growth forecast for this year and next year to 3.2% and 2.9%, respectively, on the 26th, due to rising inflation and the impact of the war between Russia and Ukraine on spending power, as well as the impact of strict anti-epidemic measures on Chinese mainland's economic growth.

In the technical line of the euro zone's Japanese line, Alligator shows a dead cross, indicating that the selling pressure of the long-term euro still exists and the short-term KD index also forms a dead cross, indicating that the selling pressure of the short-term line also appears. The early morning US dollar interest rate resolution and the market's estimation of the US dollar interest rate increase may cause the euro to challenge the parity with the US dollar again.

EURUSD: Downtrend

PricePoint：1.02758

Current transactions: hold empty orders with targets at 1.01200 and 1.01000

Alternative: Set 1.02800 to 1.03000 as targets after the price hit 1.02758.

Comment: The RSI value of 41.61% is on the short side.

【Gold】

Central banks around the world are aggressively raising interest rates to crack down on inflation behemoths. Negative-yield bonds, which prevailed during the ultra-loose monetary policy era, have now fallen to a seven-year low. According to the data, the global overall negative yield bond size was US$ 2.4 trillion last week, down 87% from the peak of US$ 184 trillion in December 2020.

According to FactSet, the size of global negative yield bonds fell to US$ 1.63 trillion in June, the lowest level since 2015, and rose to US$ 2.4 trillion on July 22, but it was still at a seven-year low.

In the technical line of gold's daily line, the long-term Alligator shows a dead cross, the short-term KD indicator also shows a dead cross, and both the long-term and the short-term show a dead cross. In addition to the US dollar interest rate resolution in the early morning, it seems that the market is more bullish on the rise of the US dollar, and other non-US currencies or gold are showing a pressure trend.

XAUUSD: Downtrend

PricePoint：1739.2

Current transactions: hold empty orders with targets at 1712.5 and 1708.8

Alternative:  Set 1742.2 to 1745.5 as targets after the price hit above 1739.2.

Comment: The RSI value of 35.21% is on the short side.

【Crude Oil】

The US government said it would sell another 20m barrels of oil from the Strategic Petroleum Reserve (SPR) as part of a previous plan to release reserves to push prices down.

White House National Economic Committee Director Rose said the U.S. government does not intend to release SPR beyond the original six-month deadline.

In the technical line of Japanese crude oil, Alligator shows a dead cross, indicating that the selling pressure of long-term crude oil still exists. However, the KD indicator has also changed from a dead cross to a gold cross. Although the opening has not been expanded, the opening of the dead cross has been narrowed, indicating that short-term buying is supported.

USOIL: Downtrend

PricePoint：103.685

Current transactions: multiple orders held with targets at 96.50 and 95.80

Alternative: Set 103.80 to 104.20 as target after the price hit 103.685 Comment: The RSI value of 39.80% is on the short side.

OnePro Special Analyst

Buy or sell or copy trade crypto CFDs at www.oneproglobal.com

The foregoing is a personal opinion only and does not represent any opinion of OnePro Global, nor is there any guarantee of reliability, accuracy or originality in the foregoing.

Forex and CFD trading may pose a risk to your invested capital.

Before making an investment decision, investors should consider their own circumstances to assess the risks of investment products. If necessary, consult a professional investment advisor.  

www.oneproglobal.com