10/27 Market report

 【Dow Jones】

Investors continued to pay attention to the relevant news of the Federal Reserve. Sherrod Brown, chairman of the US Senate Banking Committee, wrote to Powell, chairman of the Federal Reserve, urging him and the Federal Reserve officials to ensure full employment while fighting inflation, lest millions of Americans living under the pressure of huge inflation lose their jobs and raise hopes that the Federal Reserve may not raise interest rates as aggressively in the end.

Among the daily technical indicators of the Dow Jones Industrial Average, Alligator shows a gold cross, indicating that the long-term Dow Jones Industrial Average has an advantage in buying, while the short-term KD indicator shows a high-end bluntness, indicating that the short-term buying strength has emerged and continues to break through the high point with strong long-term strength.

USA30-D1: Uptrend

Price point: 30081

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

Alternative: Set 30000 and 29800 after the price hit 30081

Comment: The RSI value of 65.20% is too high.

【Euro】

The US dollar fell more than 1 per cent against most currencies on Wednesday (26th) as weak economic data reinforced the market's view that the Fed would slow the pace of interest rate hikes, coupled with market expectations that the European Central Bank (ECB) would raise interest rates significantly, pushing the euro higher, while the euro rallied above parity against the US dollar for the first time in a month.

In the euro zone's Japanese technical line, the long-term Alligator is tangled, indicating that in the long run, the euro is easy to be chaotic, and the short-term KD index is high-grade and passive, indicating that the short-term buying trend appears and the short-term challenges the consolidation range.

EURUSD-D1:Downtrend

Price point: 1.00000

Current transactions: hold empty orders with targets at 0.99800 and 1.00000

Alternative: Set 1.00200 and 1.00500 after the price hit 1.00000

Comment: The RSI value of 66.40% is too high.

【Gold】

Gold futures rose for two days on Wednesday (26th) to close at a nearly two-week high as investors continued to assess the outlook for U.S. interest rates, hoping that a potential economic downturn could prompt the Federal Reserve to slow interest rate hikes after December, while U.S. dollar and U.S. bond yields continued to fall, temporarily clearing the haze of precious metals.

The dollar weakened against major currencies and the ICE dollar index fell 1.1% to 109.755, breaking below 110 and hitting a more than one-month low. The depreciation of the US dollar means that foreign investors can buy US dollar-denominated gold at a lower cost.

In the technical line of gold's daily line, the long-term Alligator shows a dead cross, indicating that the long-term trend of gold is beginning to go empty, the short-term KD indicator shows a gold cross, and there is a buy-in on the short-term, so the next step is to observe whether the upward pressure is broken.

XAUUSD-D1:Downtrend

Price point: 1682

Current Transactions: Hold Empty Orders with Targets at 1666.8 and 1665.2

Alternative: Set 1683.5 and 1684.8 after the price hit 1682

Comment: The RSI value of 50.04% is on the short side.

【Crude Oil】

U.S. crude oil inventories rose 2.6 million barrels last week, more than expected, but industry data showed an increase of 4.5 million barrels; US crude oil exports rose to a record high of 5.1m barrels a day last week, sending net US crude oil imports to a record low. Traders attributed the surge in exports to the widening price gap between US crude and Brent crude, which fell $8 a barrel in Wednesday's trading.

In the technical line of crude oil, the long-term Alligator is tangled, indicating that the trend of crude oil in the long-term trend is beginning to be chaotic, and the short-term KD index is showing high-grade passivation, indicating that the buying of oil prices has occurred, and follow-up observation indicates whether the upward pressure has been breached.

USOIL-D1:Downtrend

Price point: 93.70

Current transactions: hold empty orders with targets at 84.80 and 84.20

Alternative: Set 93.8 and 94.2 after the price hit 93.70

Comment: The RSI value of 55.91% is on the short side.

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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