08/18 Market report

 【Dow Jones】

Affected by the weak financial results of Target Department Stores and the poor retail sales data, U.S. stocks opened lower in early trading on Wednesday (17th), U.S. bond yields rose and tech stocks howled. Only Apple bucked the trend and the decline in U.S. stocks eased after the minutes of the meeting were released.

The minutes of the July 26-27 meeting released by the United States Federal Reserve on Wednesday showed that the officials of the United States Federal Reserve believed that inflation was still unacceptably high. The United States Federal Reserve would continue its active interest rate hike until inflation slowed down significantly, but this might pay a higher economic price. In addition, the United States Federal Reserve acknowledged the risk of excessive interest rate hikes for the first time and thought that the pace of interest rate hikes might slow down at some point in the future.

Among the daily technical indicators of the Dow Jones industrial average, Alligator shows a gold cross, indicating that the Dow Jones industrial average is showing an upward trend in the long term. However, the short-term KD indicator has turned into a high-end passivation due to the persistently high Dow Jones industrial average, and both the long term and the short term are bullish. Investors should wait for a suitable price to enter the market.

USA30:Uptrend

Pricepoint: 32391

Current Transactions: Hold Multiple Orders with Targets at 34200 and 34500

Alternative: After 32391 below is broken, the direction turns empty, and 32200 and 32000 are set as targets after entering directly.

Comment: The RSI value of 70.96% is too high.

【Euro】

According to Eurostat, the EU's statistical agency, the second estimate of the economy for the second quarter, the eurozone's growth in the second quarter was slightly lower than the initial estimate.

Of the 19 countries that use the euro as their currency, Eurostat, the EU's statistical agency, saw GDP grow by 0.6% from the previous three months. This figure is less than the 0.7% economists' initial estimate; Compared with the same period of last year, the economy grew by 3.9%. By contrast, the agency gave an initial increase of 4.0%.

In the technical line of the euro zone's Japan line, the long-term Alligator is entangled, indicating that the euro has formed a consolidation range at the bottom in the long run, and the short-term KD has shown a gold cross, indicating that the euro has a buying position at the bottom and the lower support has been held.

EURUSD:Uptrend

Pricepoint: 1.01239

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

Alternative: Turn to empty after 1.01239 below is broken, and set 1.0100 and 1.00800 as targets after entering directly.

Comment: The RSI value of 46.57% is on the short side.

【Gold】

The ICE dollar index rose 0.2% on Wednesday, while the U.S. 10-year bond yield rose 8.5 basis points to 2.908%, not conducive to the rise in gold prices.

In the technical line of the Japanese gold line, the long-term Alligator shows a gold cross, indicating that the overall trend of the long-term gold line is long. However, the short-term KD has gone into low-grade passivation, indicating that the short-term pressure of gold is very great at this stage, and long-term investors may have to wait for a pullback to buy some.

XAUUSD:Uptrend

Pricepoint: 1755

Current Transactions: Hold Multiple Orders with Targets at 1772 and 1775.8

Alternative: Turn to empty after 1755 below and set 1749.2 and 1748.5 as targets after entering directly.

Comment: The RSI value of 49.26% is on the short side.

【Crude Oil】

The U.S. Department of Energy announced on August 17 that as of August 12, U.S. commercial crude oil inventories decreased by 7.1 million barrels to 425 million barrels, gasoline inventories decreased by 4.6 million barrels to 215.7 million barrels, and distilled oil inventories increased by 800,000 barrels to 112.3 million barrels. Indicating an increase in crude oil exports.

However, OPEC's crude oil production will increase by 2.4 million barrels per day to 28.7 million barrels per day in 2022 and will continue to increase by 600,000 barrels to 29.3 million barrels per day in 2023. Therefore, at this stage, when there is no significant change in demand, the gradual increase in crude oil supply is foreseeable.

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 strong, and the short-term KD index has entered the high-end passivation zone, indicating that the short-term buying is quite strong and may challenge the high point of the front wave.

USOIL:Downtrend

Pricepoint:  95.650

Current transactions: hold empty orders with targets at 85.80 and 85.20

Alternative: After the top 97.789 is breached, the direction turns more. After entering the arena directly, set 98.5 and 99.2 as targets.

Comment: The RSI value of 34.85% 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.

Forex and CFD trading may pose a risk to your invested capital.

Before making an investment decision, investors should consider their own circumstances to assess the risks of investment products. If necessary, consult a professional investment advisor. 

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