10/12 Market report

【Dow Jones】

The International Monetary Fund (IMF) cut its outlook for the global economy in 2023 on Tuesday and expects the global economy to grow by only 2.7% next year, down from the 2.9% growth rate forecast in July. The reason is that the economy faces a series of threats, including the Russian-Ukrainian war, prolonged inflationary pressure, punitive interest rates and lingering effects after the global COVID-19 epidemic.

The market is focused on US corporate earnings and the September consumer price index (CPI) to be released this week. Investors are waiting for a number of data to assess whether the US Federal Reserve will maintain its original interest rate hike, with the 10-year US bond yield rising to 3.94%.

In the daily technical indicators of the Dow Jones industrial average, Alligator shows a dead cross, indicating that the long-term direction of the Dow Jones industrial average is relatively empty, and the short-term KD indicator shows a dead cross, indicating that the rebound in the market has been under pressure and there is a possibility of a pullback in the near future.

USA30-D1:Downtrend

Price point: 31273

Current transactions:Hold empty orders with targets at 29000 and 28800

Alternatives:Set 32800 and 33200 after the price hit 31273

Comments:The RSI value of 37.04% was wide.

【Euro】

Bank of America (BofA) expects the net supply of European government bonds to rise to nearly 400 billion euros ($388 billion) next year, the highest level ever, believing that the European Central Bank's quantitative tightening (QT) measures will face challenges when implemented.

ECB policymakers are likely to start a debate about when to implement quantitative austerity, in which the central bank will sell off some of its 4 trillion euros in debt, with some hoping to make a decision in December.

In the technical line of the euro zone's Japan line, the long-term Alligator forms a dead cross, indicating that the euro has fallen in the long run, and the short-term KD indicator is low-grade and passive, indicating that the main driving force for the market is to switch to the empty side at this stage.

EURUSD-D1:Downtrend

Price point: 1.00000

Current transactions:Hold empty orders with targets at 0.96800 and 0.96500

Alternatives:Set 1.00200 and 1.00500 after the price hit 1.00000

Comments:The RSI value of 39.25% was wide.

【Gold】

Gold is likely to be affected this week by the US September consumer price index (CPI) released on Thursday. If the numbers remain high, it is almost certain to strengthen the Fed's interest-rate bet, boosting the dollar and U.S. bond yields and depressing gold prices. But if the CPI is not as good as expected, gold bulls will have a chance to fight back.

In the technical line of gold's daily line, the long-term Alligator is tangled, indicating that there is no obvious trend in the long-term trend of gold. the short-term KD index is low-grade and passive, indicating that gold is beginning to face greater selling pressure, which may challenge the recent low point.

XAUUSD-D1:Uptrend

Price point: 1614

Current transactions:Hold multiple orders with targets at 1665.8 and 1666.2

Alternatives:Set 1612.5 and 1611.8 after the price hit 1614

Comments:The RSI value of 42.69% was too high.

【Crude Oil】

Analysts at Deutsche Bank wrote that the OPEC+resolution highlighted the tightness in the spot market and should help to support crude oil prices, “but given the sharp increase in interest rates in the United States, the escalation of the energy crisis in Europe and China's still zero-out policy on the COVID-19 epidemic, this could make it difficult for oil prices to soar.” 」

In the technical line of crude oil, the long-term Alligator is tangled, indicating that crude oil has begun to be chaotic in the long-term trend, and the short-term KD index is dead and crossed, indicating that the oil price is under pressure from the recent rebound, and the space for the short-term pullback is increased.

USOIL-D1:Uptrend

Price point: 76.52

Current transactions:Hold multiple orders with targets at 90.20 and 90.50

Alternatives:Set 75.2 and 75.8 after the price hit 76.52

Comments:The RSI value of 52.97% was too high.

OnePro Special Analyst

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

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