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【Morning summary 】September 01,2020

Refresh time:2020-09-01

The price of gold rose on Monday. The U.S. dollar fell to a two-year low due to the Fed’s shift to dovish policies. However, the price of gold recorded its first monthly decline in five months. The highest intraday peak reached US$1976.39, the lowest retreated to US$1955.01, and the close rose 2.54 to 1967.53. The US dollar and the daily line are in the form of a reversal test small Yang line.


In terms of the US dollar index, the US dollar fell on Monday, the highest within the day reached 92.46, the lowest fell to 92.00, and closed down 0.11 to 92.15. Due to the adjustment of the Fed's inflation policy, the US dollar hit a low in more than two years on Monday, marking the fourth consecutive month of decline. US Secretary of State Pompeo said in an interview on Monday that President Trump is considering restricting Chinese students to study in the United States, adding that the US government may announce new actions against China in the coming weeks and months.


In terms of spot gold, gold rose on Monday. Looking at the daily line, the MACD green kinetic energy column gradually weakened. The KDJ stochastic indicator tried to break through the 50 level. In 4 hours, the MACD red kinetic energy column was basically stable, and the KDJ stochastic indicator reached the overbought level. On the whole, the price of gold continued to rebound above the key 100-period moving average. We are concerned about whether the closing price can be maintained above this level. It is recommended to do more on dips in operation.


In terms of spot silver, silver rose on Monday. Looking at the daily line, the MACD green kinetic energy column weakened slightly. The KDJ stochastic indicator tried to approach the overbought level. In 4 hours, the MACD red kinetic energy column expanded slightly, and the KDJ stochastic indicator tried to approach the overbought level. , On the whole, the price of silver continues to rise above all moving averages. At present, we are concerned about whether we can stabilize the 28 mark. Operationally, it is recommended to do more on dips.


Spot gold:


Resistance: 1975, 1980, 1986 Support: 19970, 1965, 1959


Spot silver:


Resistance: 28.50, 28.80, 29.10 Support: 28.00, 27.70, 27.20