Holiday market fell into infinite consolidation, today focus
2019-11-29 16:22 Từ：CAPSTONE Tác giả：Jack
Capstone Online CFD Trading Review of yesterday:
On Thursday, gold rebounded to around $ 1,458 before the opening of the Asian session, but the rally did not continue. Then it continued to fluctuate slightly and remained above the $ 1,453 level. Some analysts pointed out that gold has fallen below the 50-day and 100-day moving averages. If it falls below $ 1445, the price of gold will further fall to the 1400 mark near the 200-day moving average. In terms of crude oil, affected by the news that OPEC may maintain its output reduction, the US and cloth oil prices fell for a time. Before the US market was closed (2:00), the two oil companies rose on the short-term, cloth oil again approached the $ 64 mark, and US oil also returned to $ 58, recovering all lost ground in the day.
Affected by the US holiday closure of the Thanksgiving holiday, the overall trading in the foreign exchange market was light. The US dollar index fluctuated slightly, eventually trading slightly below the flat; the euro remained stable; the British pound rose by more than 60 points after being polled by the Conservative Party ’s sharp lead, and then turned down, giving up all the gains in the day and finally closing down.
Capstone Online CFD Trading Today's analysis:
(Europe and the United States M30)
Europe and America:
For the Thanksgiving holiday, foreign exchange trading was relatively light. There are no US economic data released today, and the market will shift its focus to a series of Eurozone data. This afternoon to evening, the euro zone will release a wave of heavy data, including the euro zone ’s unemployment rate in October and the initial annual rate of November CPI. Most of the euro area data released recently are good. The preliminary German November CPI value released yesterday exceeded expectations and reached a five-month high, which pushed up the market's expectations for the euro area inflation data released today. In addition, due to the base effect of rising oil prices, the market is also expected to predict that the overall inflation rate in the euro area will rise further.
EUR / USD trading strategy:
Strategy 1: Do more on dips (6 points)
Entry: 1.1008 Stop Loss: 1.1002 Take Profit: 1.1014
Strategy 2: Go short and sell (6 points)
Entry: 1.1002 Stop Loss: 1.1008 Take Profit: 1.0996
In terms of gold:
On Thursday, the whole market remained in a narrow range. During the US Thanksgiving holiday, the market as a whole was relatively light. In the end, gold closed modestly and rose, still operating below the 1460 mark, and the overall weak pattern remained unchanged. From the short-term 4 hours point of view, gold has been oscillating within the box between 1473-1520 after falling from its high level. After the bears recently broke the deadlock and fell below the 1473 mark along the lower line, they weakened again. The empty hair force caused gold to take another step, currently oscillating back and forth between 1445-1478.78. However, the overall trend is still weak, and the 1445 line below is particularly important. If the shorts break below, the downward channel will be further opened, and then the price of gold will reach another level.
Focus on the data today:
French third quarter GDP annual rate final value
German seasonally adjusted unemployment rate in November
Euro zone unemployment rate in October
Euro zone preliminary CPI annual rate in November
Canada's September GDP monthly rate
[Capstone Online CFD Trading Disclaimer]:
This analysis and trading strategy is an objective description of the current market trend. Investors need to strictly follow the trend, light positions, and stop losses! Orders cannot be completely based on trading strategies, only for reference!
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