Daily fx, a foreign exchange information website for fx168(hong kong), offers short-term advice on euro\/dollar, dollar\/ypy, spot gold and u.s. crude oil in its latest article friday (january 10). Risk aversion subsided and gold continued to weigh, dropping below $1540 overnight and closing for two consecutive days.
Forex analyst Justin Low said tensions in the U.S. and Iraq continued to recede, as gold began to regurgitate gains from previous risk-averse sentiments, which at one point fell below $1540 and are now likely to fall below the 200-hour moving average. If the short managed to break through the 200-hour moving average, it would be even more short-run in the short term, looking at $1520 or even $1500.
Tonight, the global focus is on the december non-farm payrolls report. The better-than-expected performance of the \"small nonfarm\" adp data released this week made the market more positive about nonfarm tonight. Once non - agricultural eye - catching, gold prices are afraid of a sell - off, do not rule out the possibility of a major break!
The paper said the euro\/dollar's fall below the uplink track and the 200-day moving average is now on the line, but the weak rally indicates a greater risk of falling below short-term support for further declines.
If effectively broken, the exchange rate may further point to such potential support levels. And if hold steady rebound correction, above key resistance in, effective break will change short-term bearish position, exchange rate may usher in further rebound space.
The article notes that the daily chart shows that the dollar\/yen continues to maintain a strong rise in the range, with the short term about to test the key resistance at the top of the range. If the exchange rate is effectively broken, and it means a breakthrough in the range and the downward trend line since October 2018, the outlook for further gains will be established.
The article said that gold prices around the 1555 line of volatility, should focus on 1540-1560 regional volatility, waiting for further market guidance. tend to wait and see mainly, do not rush to enter.
The article points out that u. s. crude oil continues to fluctuate in the region, should continue to wait for market development, preferring to wait and see the main sound, radicals are still considering more light positions, stop losses below.