Technical analysis of gold, the dollar and stocks
Technical analysis of gold, the dollar and stocks after inflation data in the United States, which prompted a significant rise in US bond yields.
The dollar continued to advance in the fourth consecutive trading session, and bets on an interest rate hike increased by a quarter of a percentage point. At the Fed meeting in March, June and July, the peak rate reached 5.4%. It is reported that the US interest rate is now in the range of 4.5% and 4.75%.
The wave of decline in stock indices is likely to continue with the rise in inflation and geopolitical tensions between the two largest economies in the world, not to mention the weak earnings season in the fourth quarter of 2022.
Inflation in the US unexpectedly accelerated in January and the PCE price index rose 5.4% y/y, the core gauge rose 4.7% and consumer spending rose 1.1% m/m.
According to data from the US Department of Commerce, the personal consumption expenditures index rose by 0.6% in January, the highest since June, and the core personal consumption expenditures index rose by 0.6%, the reading was higher than the economists' estimates.
Inflation data led to an increase in bond yields and increased bets that the Fed will continue its campaign against inflation, which is higher than market expectations, and the price of gold and silver fell.
Technical analysis of gold, the dollar and stocks
US dollar index
The US Dollar Index rose during the past week and is likely to continue its bullish trend to reach 105.56 and 105.75
Gold/dollar
Gold lost its attractiveness, erased all the gains of last January, and is on its way towards the level of $1798 an ounce, and then the level of 1785 and 1774.
euro/dollar
The euro fell towards 1.0535 dollars and is still trading in the downside direction towards 1.0496, followed by 1.0462
British pound / dollar
The pound retreated towards $1.1920, the strong support level. A break below 1.1900 will push for more decline towards 1.1829, then 1.1743.
dollar / yen
It rises above the resistance line 133.22 and continues in an upward trend to reach 137.02 and 137.81
Dow Jones
Dow Jones fell below the support area 32811 and is still trading in a downward trend towards 32694, followed by 32582
Standard & Poor's
S&P also dropped to 3942 and will continue the downward trend to reach 3915 and 3891
Technical analysis of gold, the dollar and stocks after inflation data in the United States, which prompted a significant rise in US bond yields.
The dollar continued to advance in the fourth consecutive trading session, and bets on an interest rate hike increased by a quarter of a percentage point. At the Fed meeting in March, June and July, the peak rate reached 5.4%. It is reported that the US interest rate is now in the range of 4.5% and 4.75%.
The wave of decline in stock indices is likely to continue with the rise in inflation and geopolitical tensions between the two largest economies in the world, not to mention the weak earnings season in the fourth quarter of 2022.
Inflation in the US unexpectedly accelerated in January and the PCE price index rose 5.4% y/y, the core gauge rose 4.7% and consumer spending rose 1.1% m/m.
According to data from the US Department of Commerce, the personal consumption expenditures index rose by 0.6% in January, the highest since June, and the core personal consumption expenditures index rose by 0.6%, the reading was higher than the economists' estimates.
Inflation data led to an increase in bond yields and increased bets that the Fed will continue its campaign against inflation, which is higher than market expectations, and the price of gold and silver fell.
Technical analysis of gold, the dollar and stocks
US dollar index
The US Dollar Index rose during the past week and is likely to continue its bullish trend to reach 105.56 and 105.75
Gold/dollar
Gold lost its attractiveness, erased all the gains of last January, and is on its way towards the level of $1798 an ounce, and then the level of 1785 and 1774.
euro/dollar
The euro fell towards 1.0535 dollars and is still trading in the downside direction towards 1.0496, followed by 1.0462
British pound / dollar
The pound retreated towards $1.1920, the strong support level. A break below 1.1900 will push for more decline towards 1.1829, then 1.1743.
dollar / yen
It rises above the resistance line 133.22 and continues in an upward trend to reach 137.02 and 137.81
Dow Jones
Dow Jones fell below the support area 32811 and is still trading in a downward trend towards 32694, followed by 32582
Standard & Poor's
S&P also dropped to 3942 and will continue the downward trend to reach 3915 and 3891
about 4 Analysis per day.
With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
