05/06 Market report

【Dow Jones】

Yesterday's big tech stocks had a huge decline. Facebook parent companies Meta Platforms and Amazon fell 6.77 percent and 7.56 percent respectively. Microsoft fell 4.36%. Salesforce fell 7.08%. Apple fell 5.57 percent.

After experiencing the big rise after the Fed's interest rate hike, Dow Jones Index had a big reversal and fell by 1,000 points in one day. It reversed the entire technical trend.

In terms of technical line, both Alligator and the KD directly became death crosses. The selling pressure of the Dow Jones emerges, and the probability of challenging the low is very large.

USA30-D1

Resistance point 1: 33500 / Resistance point 2: 33800 / Resistance point 3: 34200

Support point 1: 32500 / support point 2: 32000 / support point 3: 31500

【EUR】

The US 10-year Treasury yield has exceeded 3%. As compared with the interest rate of some fixed deposits or insurance policies, there is not much difference. This is a great attraction to make the US dollar rise again. The EURUSD began to bear some pressure due to the rising USD.

From the technical line, EURUSD's bearish pattern is still quite strong. Coupled with the Fed's tightening strategy and the ECB without any strategic changes, the short-term of EURUSD is under a lot of pressure.

EURUSD-D1

Resistance point 1: 1.06000 / Resistance point 2: 1.06200 / Resistance point 3: 1.06800

Support 1: 1.05000 / Support 2: 1.04500 / Support 3: 1.04200

【Crude Oil】

Japan is expected to discuss with G7 associates how to sanction Russia in a new way. Japan's economy minister said that the immediate truncation of Russia's energy imports will bring great pressure to Japan and so, Japan will be cautious about the crude oil embargo.

On the other hand, a panel in the U.S. Senate on Thursday introduced a bill that could put OPEC+ in court for colluding to boost oil prices.

The price of crude broke through the previous wave high. Yesterday's rise has made the Alligator a golden cross while the KD is already a golden cross.

USOIL-D1

Resistance point 1: 110.800 / Resistance point 2: 113.500 / Resistance point 3: 115.200

Support point 1: 107.500 / support point 2: 105.200 / support point 3: 103.800

OnePro Special Analyst

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