09/29 Market report

 【Dow Jones】

The Bank of England (BOE) announced that it would buy bonds to ease the market turmoil caused by the British government's financial plan. The sharp drop in British bond yields has led to a sharp rebound in yields in major countries. The bond market has stabilized and investors are also relieved. This has led to a deep rebound in the U.S. stock market. The Dow Jones industrial average rose 548 points today, even stopping at 6.5%.

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 index shows a gold cross, indicating that there is a buying counterattack at the bottom. Although the long-term direction is empty, the short-term rebound is possible.

USA30-D1: Downtrend

Price point: 31273

Current transactions:Hold empty orders with targets at 29500 and 29200

Alternatives:Set 32800 and 33200 after the price hit 31273

Comments:The RSI value of 33.34% was wide.

【Euro】

European Central Bank (ECB) President Lagarde said in a report to the European Parliament on the 26th that there will be a recession in the eurozone economy in the fourth quarter of this year and the first quarter of next year. She also said that she would continue to raise interest rates to fight inflation until the medium-term target returns to 2%.

As a result, the European Central Bank revised its economic forecast for the euro zone, which is estimated to grow by 3.1% this year, from 0.9% in 2023 to 1.9% in 2024. She told lawmakers that the fourth quarter and the first quarter of next year were “very likely to be negative growth,” which is in line with the definition of a “technical recession” of two consecutive quarters of recession.

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 index presents a gold cross, indicating that there is a buying counterattack at the bottom. although the long run is empty, the short-term rebound is possible.

EURUSD-D1:Downtrend

Price point: 1.00500

Current transactions:Hold empty orders with targets at 0.96500 and 0.96200

Alternatives:Set 0.99200 and 0.99000 after the price hit 1.00500

Comments:The RSI value of 35.94% was wide.

【Gold】

The Bank of England announced on the 28th that it will purchase as many long-term government bonds as necessary from now until October 14 to stabilize the financial market. Haresh Menghani, an analyst at FXStreet, reported that the spillover effect of the Bank of England intervention triggered a sharp drop in U.S. bond yields and forced the dollar to reverse its earlier gains.

The world's largest gold ETF, SPDR Gold Shares (GLD), saw its gold holdings fall 2.61 metric tons to 940.86 metric tons on the 28th, the lowest level in two and a half years.

In the technical line of the Japanese gold line, the long-term Alligator shows a dead cross, indicating that the long-term gold line is bearish and the short-term KD index shows a gold cross, indicating that there is a buying counterattack at the bottom. although the long-term line is bearish, the short-term rebound is possible.

XAUUSD-D1: Downtrend

Price point: 1688

Current transactions:Hold empty orders with targets at 1651.8 and 1650.8

Alternatives:Set 1689.2 and 1689.5 after the price hit 1688

Comments:The RSI value of 39.74% was wide.

【Crude Oil】

Hurricane Ian quickly strengthened into a category 4 storm and is expected to make landfall along Florida's Gulf of Mexico coast on Wednesday. Safety and Environmental Enforcement Agency (BSEE) reported on Tuesday that 9.12% of oil production and 5.95% of natural gas production in the Gulf region had been shut down in response to the storm.

Gazprom warned that the rest of the gas sent to Europe through Ukraine was also at risk of being shut down, a comment that sent benchmark gas prices in Europe and the UK higher. The market is also unnerved by the damage to Beixi 1, a pipeline that transports natural gas from Russia to Europe.

In the technical line of the Japanese crude oil, the long-term Alligator shows a dead cross, indicating that the long-term crude oil trend is relatively empty, and the short-term KD index shows a gold cross, indicating that there is a buying counterattack at the bottom. Although the long-term is empty, there is a chance of a short-term rebound.

USOIL-D1:Downtrend

Price point: 90.52

Current transactions:

Hold empty orders with targets at 80.20 and 79.80

Alternatives:Set 92.5. and 93.8 after the price hit 90.52

Comments:The RSI value of 42.92% was wide.

OnePro Special Analyst

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