Abstract:On Tuesday (September 26), the US dollar index remains strong during the early Asian trading, and is currently sitting near 106.00; spot gold continues to be under pressure, with the price of gold slightly above $1,915 per ounce.
Market Overview
On Tuesday (September 26), the US dollar index remains strong during the early Asian trading, and is currently sitting near 106.00; spot gold continues to be under pressure, with the price of gold slightly above $1,915 per ounce. Investors continue to buy oil futures and options, with a focus on crude oil, but buying has slowed as almost all short positions have been covered and bullish market forces are starting to look stretched.
Matías Salord, an analyst at leading financial website FXStreet, wrote in his latest article on Tuesday that the US dollar index touched a monthly high near 106.00. Gold prices are testing the key support level of $1,915 per ounce as bearish pressure increases.
MHMarkets strategy is only for reference and not for investment advice. Please carefully read the statement at the end of the text. The following strategy will be updated at 15:00 on September 26, Beijing time.
·Gold XAUUSD· | |
High Probability Scenario | High throw and low suction in the 1892-1903-1919-1931-1945-1951 range |
Low Probability Scenario | Chase up and kill down outside the 1892-1903-1919-1931-1945-1951 range |
·SilverXAGUSD· | |
High Probability Scenario | High throw and low suction in the 21.5-22.3-23.1-23.9-24.5-25.3 range |
Low Probability Scenario | Chase up and kill down outside the 21.5-22.3-23.1-23.9-24.5-25.3 range |
·Crude OilUSOUSD· | |
High Probability Scenario | High throw and low suction in the 83.5-85.3-87.3-89.1-90.7-91.5 range |
Low Probability Scenario | Chase up and kill down outside the 83.5-85.3-87.3-89.1-90.7-91.5 range |
·EURUSD· | |
High Probability Scenario | High throw and low suction in the 1.0360-1.0460-1.0570-1.0690-1.0755 range |
Low Probability Scenario | Chase up and kill down outside the1.0360-1.0460-1.0570-1.0690-1.0755 range |
·GBPUSD· | |
High Probability Scenario | High throw and low suction in the 1.1920-1.2030-1.2135-1.2250-1.2400-1.2470 range |
Low Probability Scenario | Chase up and kill down outside the 1.1920-1.2030-1.2135-1.2250-1.2400-1.2470 range |
Fed Governor Christopher Waller's recent comments have highlighted a cautious stance towards adjusting interest rates, marking a significant moment for the financial markets.
In the forex market, stability was the theme for the U.S. dollar index, holding firm at 104.30. Minor fluctuations were observed across major currency pairs: the Euro slightly weakened against the dollar, closing at 1.0827
In the latest market wrap focusing on the foreign exchange sector, the U.S. dollar index showed minimal movement, holding at 104.31.
On Tuesday, due to February's US durable goods orders growth exceeding expectations and an optimistic economic growth outlook for the first quarter in the US, the US dollar index initially fell but then rose, briefly touching below the 104 mark before recovering during the US trading session, closing up 0.07% at 104.29.