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【Morning summary 】September 04,2020

Refresh time:2020-09-04

The price of gold fell to a low of nearly a week on Thursday, as the positive economic data released by the United States raised the hopes of a rapid economic recovery and weakened the attractiveness of gold. The highest level in the day reached US$1950.87, the lowest was pulled back to US$1921.82, and the closing fell 12.37 to 12.37. At 1930.18 US dollars, the daily line showed a reversal test small Yang line pattern.


In terms of the US dollar index, the US dollar continued to rebound on Thursday. The highest in the day reached 93.07, the lowest fell to 92.63, and closed up 0.12 to 92.76. As investors reduced their short bets on the US dollar and sold the euro, the US Department of Labor announced on Thursday, As of the week of August 29, the number of initial claims for unemployment benefits in the United States was 881,000, the lowest value since mid-March, a decrease of 130,000 from last week. The number of applicants for unemployment benefits at the beginning of the previous week was revised down by 5,000 to 1.011 million. This data boosted the dollar to some extent.


In terms of spot gold, gold fell on Thursday. Looking at the daily line, the MACD green kinetic energy column gradually increased. The KDJ stochastic indicator tried to fall below the 50 level. In 4 hours, the MACD green kinetic energy column was relatively strong, and the KDJ stochastic indicator tried to be oversold. The level has rebounded. On the whole, gold has strong bearish momentum and may fluctuate further in the short-term. It is recommended to go short on rallies in operation.


In terms of spot silver, silver fell on Thursday. Looking at the daily line, the MACD green kinetic energy column turned to expand. The KDJ stochastic indicator hovered above the 50 level. In 4 hours, the MACD red kinetic energy column weakened slightly, and the KDJ stochastic indicator tried to approach overbought downwards. Level, as a whole, the bearish momentum of silver has strengthened, and the price may fluctuate further. It is recommended to go short on rallies in operation.


Spot gold:


Resistance: 1935, 1940, 1946 Support: 1930, 1925, 1919


Spot silver:


Resistance: 27.00, 27.30, 27.60 Support: 26.50, 26.20, 25.90