MBG ForesightGold sideLast week, gold tumbled 6.16%, its biggest weekly decline since March 2020. This is mainly because last week's Fed rate decision implied that they expect two rate hikes by the end of 2023, confirming fears that the Fed will soon taper its stimulus efforts. Looking ahead to this week, the Bank of England is also expected to be hawkish. Therefore, in the short term, the gold price is expected to remain under pressure, but it does not rule out a technical rebound after the negative deviation is too large.Oil priceLast week, US oil prices continued to swing higher. Although the Fed's strong turn to the eagle helped the dollar strengthen, the United States and cloth oil pressure. But the reduced likelihood of sanctions relief from Iran and continued inventory declines have further boosted the demand outlook; In addition, OPEC expects slow growth in U.S. shale oil production this year, which provides upward momentum for oil prices. Expectations for the future market are generally very optimistic. As a result, this week continued to maintain the high volatility structure of oil prices.American sideLast week, the dollar index posted its biggest weekly gain in 14 months, largely on the back of an unexpectedly hawkish Fed that signaled it was considering an early rate hike, with most Fed policymakers expecting at least two quarter-point hikes in 2023. On Tuesday, Fed Chairman Jerome Powell will address Congress on the coronavirus response and the economic outlook, and markets are expected to say that inflation will continue to move higher in the near term, possibly based on economic and inflation data to assess whether a gradual and orderly tapering of bond purchases can be done. In relative terms, Powell's attitude may be slightly more dovish than the Fed's resolution. In addition, on Friday, the United States will release May PCE data, the current market expectations of the United States May core PCE price index at 3.5% annual rate. Overall, the US dollar index is still strong, but after the positive divergence rate is too large, it does not rule out a technical correction.European aspectLast week, the euro fell 2.02 percent against the dollar, largely as investors sold off on expectations that the U.S. winding down its unconventional monetary stimulus program would boost the greenback sooner than expected. Therefore, the euro is expected to remain under pressure in the short term, but it does not rule out a technical rebound after the negative deviation is too large.In Britain, the pound fell 2.17% against the dollar. On the one hand, the strong dollar has weighed on the pound; On the other hand, the pound was also weighed down by an unexpected drop in UK retail sales data and a delay in the relaxation of the final phase of quarantine restrictions in the UK due to an outbreak of the Delta strain in the UK. On Thursday, the Bank of England will announce its decision on interest rates, which are currently not expected to rise until 2023, but with inflationary pressures mounting and growth prospects improving, a growing number of analysts expect the central bank to move sooner. If the Bank of England moves ahead of the Fed, it could support the pound to some extent. Overall, the short-term pound is still under pressure, but it does not rule out a technical rebound after the negative deviation is too large.Commodity money sideCommodity currencies fell sharply last week. The dollar's rise has been negative for commodity currencies, mainly because markets think the Fed is edging closer to starting to talk about tapering stimulus. In addition, in the case of global stock market setbacks, it also makes the market risk appetite decreased. Overall, it is expected that the Australian dollar and the New Zealand dollar will still face some pressure in the short term, but it is necessary to pay attention to whether there is a technical rebound after the negative divergence is too large.Major currency pairsEuropean Union/United States (EURUSD)Support: 1.1800, resistance: 1.2000Technical, according to the average buckle point of view, the short-term average still shows a short arrangement, 5, 10, 20 average daily buckle high, with greater pressure. KD is below 50, the short side is in control, and there may be a technical rebound after the negative deviation is too large.Support: 1.3650, resistance: 1.4000Technical, according to the average buckle point of view, the short-term average shows a short arrangement, 5, 10, 20 average daily buckle high, with greater pressure. KD is below 50, the short side is in control, and there may be a technical rebound after the negative deviation is too large.Support: 109, pressure 110.8On the technical level, the short-term moving average shows a long arrangement, but the 5 and 10 moving average will gradually buckle higher, and the support is not strong; 20, 60 moving average has been gradually lower, there is a certain support. KD is around 50, oscillating structure.Support: 0.7400, resistance: 0.7600Technical, according to the average buckle point of view, the short-term average shows a short arrangement, 5, 10, 20 average daily buckle high, with greater pressure. KD is below 50, the short side is in control, and there may be a technical rebound after the negative deviation is too large.Support: 0.6850, Resistance: 0.7100Technical, according to the average buckle point of view, the short-term average shows a short arrangement, 5, 10, 20 average daily buckle high, with greater pressure. KD is below 50, the short side is in control, and there may be a technical rebound after the negative deviation is too large.Support: 1.2300, pressure 1.2600Technically, the short-term moving average shows a long arrangement, so the 5, 10, 20 moving average has a certain support. KD is above 50, multi-controlled, but positive divergence has been larger.Support: 1750, resistance: 1815Technical, according to the average buckle point of view, the short-term average shows a short arrangement, 5, 10, 20 average daily buckle high, with greater pressure. KD is below 50, the short side is in control, and there may be a technical rebound after the negative deviation is too large.Support: 68, resistance: 73On the technical surface, the short-term moving average shows a multi-sided arrangement, and the 10 and 20 moving average have strong support. KD crosses over 50 dead, oscillating structures.CFTC fund flow data shows that the short yen is at extreme value, so it is expected to rally in the short term with the inflow of funds and support it, in addition, the long Canadian dollar is also still at extreme value.