US dollar index ($USD)

Fundamental analysis:

On Monday (August 30th), the US dollar closed relatively flat and attempted to recover from last Friday's decline, when Federal Reserve Chairman Powell's speech was interpreted as biased towards the dove. The US dollar index hit a two-week low of 92.595 at one point, but then slightly strengthened before falling slightly to 92.69 in late trading; Earlier data showed that pending home sales in the United States fell for the second consecutive month in July, and data released by the Dallas Fed showed a slowdown in manufacturing activity in August compared to the previous month, followed by a brief rise in the US dollar. Some market analysts have stated that the market is still digesting Powell's dovish stimulus speech, and you may see that the market is a bit confused as the US bond yield has not received a signal of starting to rise, and the trend will depend on data, inflation, and the job market and all other data.

Technical analysis:

On a daily basis, the US dollar index closed lower, with prices falling below the mid track, the Bollinger band opening slightly, and the MACD showing a slight weakening of action, while the RSI fell below the 50 axis. At the 4-hour level, there was a slight increase in action under the MACD, and the RSI remained between the 50 and 70 axes. Looking for direction, there is a high probability that the US Index will continue to decline and consolidate after rebounding today.

Gold (XAUUSD)

Fundamental analysis:

Gold prices fell on Monday after reaching a nearly four week high, with spot gold closing near $1810 in late trading, reaching its highest level since August 4th earlier; The US dollar has rebounded from its lows, and investors are cautious ahead of the release of the key US employment report later this week. After Federal Reserve Chairman Powell delivered a speech at the Jackson Hole annual economic meeting last Friday, gold prices rose early on Monday. Powell stated that the Federal Reserve may reduce its bond buying program this year, but did not provide a precise timetable for starting the reduction, which has driven gold prices higher. However, gold prices subsequently fell as the US dollar, which had fallen to its lowest level in nearly two weeks after Powell's speech, began to rebound. Senior analysts have stated that the market is beginning to feel that there will be a reduction in bond purchases this year, but it may not reach a surprising level. However, Wyckoff stated that the cautious sentiment prior to the release of the US non farm payrolls report on Friday may cause a drag this week, as strong data may give hawkish Federal Reserve officials greater influence in advocating for the withdrawal of ultra loose monetary policy.

Technical analysis:

The daily level prices closed down yesterday, and action can begin on the MACD. The daily level prices are expected to climb to around 1833.69 and form a double peaked posture. The 4-hour level Brin belt is slightly extended, the action on MACD can be weakened, and the RSI is turned down and maintained between the 70 and 50 axes before touching the overbought.

Trading strategy: short selling on high

Silver (XAGUSD)

Technical analysis:

The daily level closed higher yesterday, with relatively weaker action under MACD, and the RSI approaching the 50 axis, with the opening of the Bollinger band slightly contracting towards the mid orbit. The 4-hour level Bollinger belt mouth slightly unfolded, and the action ability on MACD was temporarily enhanced, while the RSI remained between the 70 and 50 axes.

Trading strategy:

Support long

US crude oil (XTIUSD)

Fundamental analysis:

Oil prices have risen, and after Hurricane Ida caused severe damage, platforms, refineries, and pipelines along the US Gulf Coast are responding to uncertainty about the resumption schedule. However, the increase is limited as OPEC+, composed of the Organization of Petroleum Exporting Countries (OPEC) and its allies, appears to be increasing oil production as planned. Within 12 hours of landfall, Ida weakened to a Category 1 hurricane and subsequently weakened to a tropical storm. Hundreds of oil production platforms evacuated before the storm, and almost all offshore oil production in the Gulf of Mexico was suspended, equivalent to a production capacity shutdown of 1.74 million barrels per day. Oil and gas pipeline operators are inspecting the damage caused by the storm. US gasoline rose by over 1.5%, providing support for crude oil. The power outage has exacerbated the impact of refinery closures along the Gulf of Mexico coast, with traders weighing the possibility of prolonged production disruptions. OPEC+will hold a meeting on Wednesday to discuss the previously agreed 400000 barrels per day production increase plan. OPEC representatives said they expect to advance the plan, but Kuwait's oil minister said on Sunday that they may also reconsider.

Technical analysis:

The daily level prices opened high yesterday and then fell back. Under the daily MACD level, action can weaken, RSI has broken through the 50 axis, the 4-hour Bollinger band has tightened, RSI has fallen from overbought, and action on the MACD can slightly decrease.

Trading strategy: short selling on high

Europe and America (EURUSD)

Fundamental analysis:

The euro remained relatively unchanged against the US dollar at 1.1797, hitting a high of 1.1810 in over three weeks during the session, close to the 55 day moving average (at 1.1826). If it closes above this level, it is expected to reach the July high of 1.1909.

Technical analysis:

Daily level prices closed higher yesterday, and actions under MACD can gradually weaken, with RSI breaking above the 50 axis. The opening of the 4-hour Bollinger band is open upwards, and the RSI is close to below the 70 axis. The action on the MACD can be enhanced.

Trading strategy:

Support long

GBPUSD

Fundamental analysis:

Due to public holidays in the UK, overall trading in Europe was suppressed. Moya pointed out that holidays often affect normal currency market movements.

Technical analysis:

The daily level closed up yesterday, with the opening of the Bollinger band opening downwards, the downward trend of MACD slightly weakened, and the RSI approaching below the 50 axis. Action can start on the 4-hour level MACD, and RSI will advance upwards after breaking through the 50 axis.

Trading strategy: support long trading

Hang Seng Index (HK50)

Technical analysis:

The daily level prices rose yesterday, and the action under MACD could slightly weaken, while RSI remained between the 50 and 30 axis. The 4-hour level Bollinger band is contracting towards the mid orbit, and the movement can be weakly maintained under MACD, while RSI hovers around the 50 axis.

Trading strategy: short selling on high