AMBRY TRADING CO., LIMITED
News Center
Current position:Home > News Center > Trading strategy
Trading strategy

【Morning summary 】September 03,2020

Refresh time:2020-09-03

Spot gold fell by nearly 1.4% on Wednesday, due to the strengthening of the US dollar and the strong rebound of the US manufacturing industry, which triggered the hope that the US economy that was hit by the incident would recover quickly. 27.54 to 1942.55 US dollars, the daily line is in the form of a bounce test baron line.


In terms of the US dollar index, the US dollar rose on Wednesday, the highest within the day reached 92.86, the lowest fell to 92.20, and closed up 0.34 to 92.64. The US dollar rebounded from a two-year low as US data showed strong manufacturing activity, while the euro has since 2018. The highest level of the company fell back and was suppressed by profitability. Data released by the United States on Wednesday showed that the monthly rate of factory orders in July was 6.4%, higher than the expected 6% and the previous value of 6.2%, further enhancing the optimism of the steady economic recovery.


In terms of spot gold, gold fell on Wednesday. Looking at the daily line, the MACD green kinetic energy column gradually increased. The KDJ stochastic indicator fell below the 50 level. In 4 hours, the MACD green kinetic energy column increased, and the KDJ stochastic indicator touched down. Buying level. On the whole, gold's bearish momentum is strengthened, and it may go down in the short term. It is recommended to go short on rallies in operation.


In terms of spot silver, silver fell on Wednesday. Looking at the daily line, the MACD green kinetic energy column increased in volume. The KDJ stochastic indicator tried to approach the overbought level. In 4 hours, the MACD green kinetic energy column expanded slightly, and the KDJ stochastic indicator fell below 50. On the whole, silver bearish momentum has increased, and it may fluctuate further in the short-term. It is recommended to go short on rallies.


Spot gold:


Resistance: 1950, 1955, 1961 Support: 1939, 1933, 1928


Spot silver:


Resistance: 27.70, 28.00, 28.30 Support: 27.20, 26.90, 26.60