08/08 Market report

【Dow Jones】

U.S. Labor Department released the latest U.S payrolls data on Frida. The increase in U.S. payrolls in July reached 528,000, far exceeding the expected 250,000, a new high since February this year, with the unemployment rate reaching 3.50%, pushing up 10-year U.S. bond yields.

U.S. payrolls data beat expectations, deepening expectations that the Federal Reserve could take more aggressive action to tighten the money supply, with most U.S. stocks falling today.

In the daily technical index of the Dow Jones industrial average, Alligator has a gold cross, and the short-term KD has also formed a gold cross. Both the long-term and the short-term have a long-term pattern, and the momentum of the subsequent rise is very strong.

USA30: Uptrend

Price Point：32391

Current transactions: multiple orders held with targets at 33000 and 33200

Alternative: Set 32200 and 32000 as targets after the price hit 32391.

Comment: The RSI value of 63.03% is too high.

【Euro】

Strong employment data pushed up the likelihood that the Fed will raise interest rates another 3 yards in September.

According to the Chicago Mercantile Exchange's FedWatch tool, the federal funds rate futures trading market forecast on Friday that the Fed's chance of a 3-yard hike in September was 68.5%, up from 34%, and inflation data released next week will be a key point.

The euro fell 0.64% to $1.0181 against the dollar, again close to parity. The two exchange rates reached parity for the first time in the middle of last month.

In the technical line of the euro zone's Japan line, the long-term Alligator shows a dead cross, indicating that the long-term euro price is gradually controlled by the empty side again. The short-term KD forms a gold cross but the opening is already very small, indicating that although the long-term bears have advantages gradually, the possibility of a short-term rebound increases.

EURUSD: Uptrend

PricePoint：1.01239

Current transactions: hold empty orders with targets at 1.02000 and 1.02200

Alternative: Set 1.0100 and 1.00800 as targets after the price hit 1.01239.

Comment: The RSI value of 47.54% is on the short side.

【Gold】

U.S. House Speaker Pelosi visited Taiwan this week, the highest level of U.S. officials to visit Taiwan in 25 years, triggering a fierce backlash in Beijing, holding a exercise and launching Dongfeng missiles at Taiwan.

There are more signs that central banks' actions to suppress inflation will drag down global economic growth.

The Bank of England raised interest rates by 2 yards on Thursday, the biggest increase in 27 years, and warned that Britain could face a recession for more than a year. Meister, the chief executive of Cleveland United Quasi Bank, said on Thursday that US interest rates needed to rise above 4%.

In the technical line of the Japanese gold line, the long-term Alligator is in a tangled state, indicating that the gold price of the long term is already in a wrestling state between buying and selling, and the short-term KD forms a dead cross, indicating that the seller still has a comparative advantage in the short term.

XAUUSD: Uptrend

Pricepoint：1751

Current transactions: multiple orders held with targets at 1780.5 and 1782.8

Alternative: Set 1749.2 and 1748.5 as targets  after the price hit 1751

Comment: The RSI value of 53.93% is too high.

【Crude Oil】

Saudi Arabia, the world's largest oil exporter, has announced an increase in the price of crude oil sold to Asian buyers in September, despite the economic slowdown threatening to hit international demand for fuel, mainly because Saudi Arabia believes the Asian oil market is still tight.

It was only on the 3rd that Saudi Arabia and OPEC+, an oil-producing alliance led by Russia, reached a consensus on the goal of increasing oil production, with an increase of 100,000 barrels per day since September.

However, the market believes that the increase in OPEC+ oil production is too small and has little impact on the supply side of the oil market.

In the technical line of the Japanese crude oil, the long-term Alligator shows a dead cross, indicating that the selling pressure of the long-term crude oil is relatively strong, the short-term KD index enters the low-grade passivation area, and the long-term and short-term market prices are both relatively empty, especially the short-term KD belongs to the trend of strong short selling, and it is not recommended to reverse the trend in the short term of crude oil.

USOIL: Downtrend

PricePoint：103.685

Current transactions: hold empty orders with targets at 88.50 and 87.80

Alternative: Set 103.80 and 104.20 as targets after the price hit 103.685.

Comment: The RSI value of 32.27% 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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