08/01 Market report

【Dow Jones】

U.S. Department of Commerce announced on July 28 that gross domestic product (GDP) in the second quarter of the United States contracted at an annual rate of 0.9% in the quarter, continuing the 1.6% contraction in the first quarter and showing two consecutive quarters of contraction, which meets the popular definition of a recession.

After the report, US stocks suffered a temporary turbulence, but investors expected the Federal Reserve might not need to raise interest rates as aggressively as it did, and former Federal Reserve chairman Powell said he would be open to a 2-yard hike in September after more and more signs that US economic growth is slowing and commodity prices are falling, which could cool inflation in the summer.

In the technical indicators of the daily line of the Dow Jones industrial average, Alligator has a gold cross, while the short-term KD has a gold cross. In the high-end passivation area, the length tends to be long, and the upward trend is quite obvious.

USA30: Uptrend

PricePiont：31502

Current transactions: multiple orders held with targets at 32500 and 32800

【Euro】

The euro zone's economy maintained a stronger-than-expected growth in the second quarter, easing concerns about a slowdown.

In addition, inflation in the euro zone rose again in July, and it may be months before it reaches its peak.

These two factors have increased the chances that the European Central Bank (ECB) will again raise interest rates sharply in September.

Eurostat announced on the 29th that gross domestic product (GDP) in the euro zone in the second quarter increased by 0.7% in the first quarter and 4% in the year, better than the 0.2% in the quarter and 3.4% in the year expected by analysts, and continuing the expansion trend of 0.5% and 5.4% in the first quarter.

In the technical line of the euro zone's Japanese line, the long-term Alligator shows a dead cross, indicating that selling pressure still exists, while the short-term KD indicator shows a gold cross, indicating that the short-term buying is relatively strong. In case of inconsistent length, it mainly depends on the price. At this stage, the euro enters the consolidation range, waiting for a breakthrough in the future.

EURUSD: Downtrend

PricePoint：1.02758

Current Transactions: Empty Orders Held, Target at 1.02200 and 1.02000

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

Comment: The RSI value of 48.95% is on the short sid

【Gold】

Whether the gold price has fallen to the satisfaction point after 4 months has attracted much attention from investors. The US dollar and the real interest rate may fall further. The short-term price is basically supported by the gold price, but it can only be regarded as a deep rebound.

The most important event this week was the monetary policy meeting of the Federal Open Market Committee (FOMC). Apart from the expected 3-yard increase in interest rates, Chairman Powell said, “As the monetary policy stance is further tightened, slowing down the pace of the increase is likely to become an appropriate measure as we assess the impact of the policy adjustments on the economy and inflation since this time. ”The possibility of a 3-yard hike in September was reduced, giving the gold, which had fallen further, a break.

In the technical line of the Japanese gold line, the long-term Alligator shows a dead cross, and the short-term KD indicator also shows a gold cross, and enters the high-end passivation zone, indicating that gold has a buying position at the bottom, and the short-term gold buying position is strong. It is suggested to wait for a suitable buying position.

XAUUSD: Uptrend

PricePoint：1713

Current Transactions: Hold Multiple Orders with Targets at 1768.5 and 1772.8

Alternative: Set 1711.2 and 1709.5 as targets after the price hit 1713. Comment: The RSI value of 52.73% is too high.

【Crude Oil】

The US Commodity Futures Trading Commission (CFTC) released data on July 19, showing that the net position of speculators in crude oil futures was 271,091, a slight increase of 2,763 compared with the previous week.

However, when looking at the net position of speculators in light crude oil futures, the long-term long position will continue to decrease, and the multi-party chips will remain cautious.

The latest EIA data show that the inventory of crude oil and petroleum products in the United States has dropped, and the short-term supply side provides support. However, the economic data released by the United States last week shows that the GDP of the United States has contracted for two consecutive quarters, while the doubts that the economic recession may lead to a slowdown in energy demand restrict the buying of light crude oil.

In the technical line of the Japanese crude oil line, the long-term Alligator shows a dead cross, indicating that the selling pressure of the long-term crude oil still exists, and the short-term KD index shows a gold cross, with the opening gradually becoming larger, and the market length begins to contain each other, causing the crude oil market to fall into a stalemate.

USOIL: Downtrend

PricePoint：103.685

Current transactions: hold empty orders with targets at 98.50 and 97.20

Alternative: Set 103.80 and 104.20 as targets after the piece hit 103.685 Comment: The RSI value of 44.72% 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.

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