Dow Jones Industrial Average: U.S. Stocks Remain Weak with Weak U.S. Housing Demand and Quantitative Tightening

Summary:

U.S. second-hand home sales fell for the sixth straight month in July, suggesting that high borrowing costs and weak demand are driving a rapid decline in the housing market. Second-hand home sales have fallen nearly 26% since January, the largest six-month drop since 1999, underscoring the housing market's impact on rising mortgage rates and home prices. In addition, A slowdown in the construction industry and more buyers pulling out of deals are also weighing on the market. On the other hand, aggressive interest rate hikes by the Fed have left stocks facing some headwinds, but Bank of America said that the Fed's shrinking of its balance sheet also poses a risk to stock prices. Quantitative tightening has undoubtedly given way to more pressing issues such as inflation and recession anxiety, but as economic growth continues to slow, the impact of the Fed's asset reduction may come to the fore.

SELL US30

EXP

EXPIRED

28980.00

Entry Price

28810.00

29145.00

44416.90 -147.00 -0.33%

Pips

EXPIRED

28810.00

31847.15

Exit Price

28980.00

Entry Price

29145.00

Fundamentals

U.S. second-hand home sales fell for the sixth straight month in July, suggesting that high borrowing costs and weak demand are driving a rapid decline in the housing market.

Data released on Thursday by the National Association of Realtors (NAR) showed second-hand home sales in July fell 5.9% to an annualized rate of 4.81 million units, the lowest level since May 2020. Economists polled by Bloomberg had expected 4.86 million units. Unadjusted sales volumes fell 22.4% year over year.

Second-hand home sales have fallen nearly 26% since January, the largest six-month drop since 1999, underscoring the housing market's impact on rising mortgage rates and home prices. In addition, A slowdown in the construction industry and more buyers pulling out of deals are also weighing on the market.

Weak demand has led to a pickup in the inventory of homes for sale, which could prompt prices to cool in the coming months.

In terms of home sales and home construction in the U.S., the housing recession continues.

On the other hand, aggressive interest rate hikes by the Fed have left stocks facing some headwinds, but Bank of America said that the Fed's shrinking of its balance sheet also poses a risk to stock prices.

Looking at the historical relationship between Fed bond purchases and S&P 500 returns from 2010 to 2019, quantitative tightening through the end of 2023 will see the S&P 500 fall 7% from current levels, Bank of America concluded in a research note Monday.

Quantitative tightening has undoubtedly given way to more pressing issues such as inflation and recession anxiety, but as economic growth continues to slow, the impact of the Fed's asset reduction may come to the fore.

Technical Analysis

2.1 Monthly Chart of Dow Jones Industrial Average

Dow Jones Industrial Average: U.S. Stocks Remain Weak with Weak U.S. Housing Demand and Quantitative Tightening_1

Candlestick: This month the real body of the candlestick broke the downtrend line since January 31, 2022. The market fluctuated near the trendline, and the bulls have not yet determined that the upside is successful and effective.

2.2 Weekly Chart of Dow Jones Industrial Average

Dow Jones Industrial Average: U.S. Stocks Remain Weak with Weak U.S. Housing Demand and Quantitative Tightening_2

Candlestick: The long upper shadow candlestick at the top of the range closed this week, indicating the formation of the top of the price stage. The upper high of 34,000 is the key resistance level. The 34,000 level is the key dividing level for the bulls of the descending wave trendline and the corrective wave.

At present, the price has returned to the downtrend line, indicating that the bearish volume can dominate. It will turn to a high and volatile downward market at the stage next week with a high probability.

It is recommended to continue to focus on the key resistance level above 34,000.

2.3 Daily Chart of Dow Jones Industrial Average

Dow Jones Industrial Average: U.S. Stocks Remain Weak with Weak U.S. Housing Demand and Quantitative Tightening_3

Candlestick: It is near 34,000, formed the candlestick combination that turns into a short position in the top at this stage. It is also affected by the downward trendline since January 31, 2022. During the evening session of the day, it is recommended to go short at highs.

During the day, you can focus on the key support position below 33560.

2.4 Hourly Chart of Dow Jones Industrial Average

Dow Jones Industrial Average: U.S. Stocks Remain Weak with Weak U.S. Housing Demand and Quantitative Tightening_4

Candlestick: The intraday price runs along the hourly-level descending channel. At present, the price is stepping back on the upper track of the channel. The key resistance level above is 34,000 and then the price continues to decline.

Trend moving averages: Bulls are lined up, and the general trend is still maintained

Bears: Bears dominate the market.

MACD: Double lines are back in the first zone and there is still room for the downside.

KD: They just formed a death cross, suitable to enter the market and go short.

CCL: The gauge line is in the third zone, which is an overbought signal and suitable to go short.

Short trend moving average: Bears lined up, suitable to go short intraday.

Fast and slow trendlines and OBV: A death cross is formed in the overbought zone, suitable to go short.

Dow Jones Industrial Average: U.S. Stocks Remain Weak with Weak U.S. Housing Demand and Quantitative Tightening_5

It is recommended to go short on Dow Jones Industrial Average at highs.

Entry Price: 28980;

Take Profit: 28810;

Stop Loss: 29145.

Risk Warnings and Disclaimers

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Jason

Summary:

The dollar has regained the support of market interest rate hike expectations, while Europe is at risk of falling into economic recession and inflation de-anchoring. At present, the basis of the euro is a typical European weakness and the strong US.

SELL EURUSD

EXP

EXPIRED

1.01229

Entry Price

1.00000

1.04634

1.04912 +0.00765 +0.73%

Pips

EXPIRED

1.00000

0.99506

Exit Price

1.01229

Entry Price

1.04634

Fundamentals

The euro fell 0.92% on Thursday, hitting a low of 1.00768 on July 18 during the session. The short-term surge in the dollar put pressure on the euro as speeches by Fed officials reversed the market's expectations for the Fed to raise interest rates during the US session. At present, the trend of the dollar is clear, regaining the support of interest rate hike expectations. Until the next important economic data is released, the market reinterprets it and starts a new round of expectations.

In the euro, yesterday European Central Bank executive member Schnabel said in an interview with Reuters that the eurozone economy has slowed significantly, and he does not even rule out the possibility of entering a technical recession, especially if energy supplies from Russia are further interrupted. And he said that it does not rule out that inflation will rise further in the short term. At the same time, there is a heightened risk of inflation de-anchoring.

This suggests that market fears of recession and inflation in Europe are not misplaced and that the euro itself is in trouble.

At present, the basis of the euro is a typical European weakness and the strong US.

Technical Analysis

In the 4-hour chart, after hovering at the bottom of the uptrend channel for 3 trading days, the euro finally fell below the support and also fell below the bottom of the 1.02731--1.01229 oscillation range, which is currently supported by the downtrend line (blue). A close below 1.01229 for the week would start a new round of losses. In terms of indicators, Stoch, DMI, and Ichimoku cloud all show that the euro will pull back in the short term, and you can continue to go short after the pullback.

EURUSD: Weak in Europe and Strong in the US with the Euro Expected to Hit Parity Again_1

Trading Recommendations

Trading Direction: Short

Entry Price: 1.01229

Target Price: 1.0000

Stop Loss: 1.04634

Support: 1.00769, 1.00410, 1.0000

Resistance: 1.01229, 1.01710, 1.02016

Risk Warnings and Disclaimers

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Jason

Summary:

Four Fed officials delivered speeches one after the other, during which they overrode the market's previous interpretation of the minutes of the Fed's July meeting, raising expectations of interest rate hikes. The USD is again supported by the expectation of raising interest rates until after the next important economic data is released, by which the market will reinterpret it for brand new expectations.

BUY USDX

EXP

EXPIRED

107.254

Entry Price

108.564

106.500

107.210 -0.690 -0.64%

Pips

EXPIRED

106.500

108.810

Exit Price

107.254

Entry Price

108.564

Fundamentals

On Thursday, the USD fluctuated widely in Asian and European sessions, and it began to rise unilaterally during the U.S. session, closing up 0.77%. As four Fed officials delivered speeches one after the other, they overrode the market's previous interpretation of the minutes of the Fed's July meeting, raising expectations of interest rate hikes.

San Francisco Fed President Daly said that core service inflation is still on the rise, food and health care costs are also rising, rents remain high, and it is too early to declare victory over inflation. We will continue to raise interest rates to the appropriate level. A 50 or 75 basis point hike in September is expected to be reasonable, and rates need to be slightly above 3% by the end of the year. We don't want the market to think that the Fed's path is hump-shaped and that rates won't fall right after they rise. A strategy of raising rates and maintaining stability for a period of time is appropriate.

Minneapolis Fed President Kashkari said: We have to do more to reduce inflation. Because the current economic fundamentals are strong, he does not believe that the U.S. economy is in recession.

Kansas Federal Reserve Chairman George said last month's inflation report was "encouraging", but was still far from winning the inflation. There are still plenty of reasons to keep raising interest rates, but how fast to raise rates is still a question the Fed needs to discuss.

St Louis Fed chairman Brad said: we should continue to quickly raise policy interest rates to levels that would put significant downward pressure on inflation. The Fed should not delay raising interest rates. It is too early to judge whether inflation has reached its peak. It is hoped that the Fed's policy interest rate will reach 3.75%-4% by the end of the year.

The Fed's message is clear: inflation has not slowed down, the fight against inflation is still the Fed's top priority; the U.S. economy is not in recession, there is still room for further tightening of policy, and it is too early to talk about a slowdown in interest rates.

Due to media guidance, for the July meeting minutes, the market misinterpreted or one-sidedly believed that the Fed officials "worried about the lag of monetary policy and tightening too much". After the four officials' speeches, the market has a clear judgment, together with the reinterpretation of the minutes, resulting in a unilateral rally of the USD in the short term.

The current trend is quite clear. The USD is again supported by the expectation of raising interest rates until after the next important economic data is released, by which the market will reinterpret it for brand new expectations.

Technical Analysis

In the 4-hour timeframe, the trend of the USD has formed a W-shaped bottom in the short term after breaking out of the fluctuation range constructed by the two Fibonacci Lines (38.2%/50.0%) yesterday. The USD will remain in an upward trend until it breaks the neckline (also the top of the fluctuation range) at 106.870. The USD is currently in another historical fluctuation range of 108.564 - 107.484. Considering the USD's huge rally yesterday and the possibility of profit-taking on Friday, the USD will fluctuate overall. In terms of indicators, Stoch, DMI, and Ichimoku chart all show that the USD will fall in the short term, and it is recommended to go long at the lows.

USDX: Officials Changed Market Expectations, Providing Support for the USD_1

Trading Recommendations

Trading direction: Long

Entry price: 107.254

Target point: 108.564

Stop loss: 106.50

Support: 107.844, 108.221, 108.564

Resistance: 107.484, 107.254, 106.870

Risk Warnings and Disclaimers

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Samantha Luan

Summary:

Since Japan entered the "seventh wave" of the pandemic in mid-July, the number of confirmed infections has repeatedly hit new highs. The WHO's statistics show that from July 8th to August 14th, Japan's newly confirmed COVID-19 cases have ranked first in the world for four consecutive weeks. In addition, the high number of infections has overwhelmed the Japanese medical system, and medical resources are currently under strain in many places. Some experts believe that under the current pandemic prevention policy, this pandemic wave in Japan is far from its peak and will continue for a long time.

SELL Japan225

EXP

EXPIRED

28980.00

Entry Price

28810.00

29145.00

40484.25 +595.00 +1.49%

Pips

EXPIRED

28810.00

27977.50

Exit Price

28980.00

Entry Price

29145.00

I. Fundamentals

Since Japan entered the "seventh wave" of the pandemic in mid-July, the number of confirmed infections has repeatedly hit new highs. The WHO's statistics show that from July 8th to August 14th, Japan's newly confirmed COVID-19 cases have ranked first in the world for four consecutive weeks. According to statistics from the Japan Broadcasting Association TV station, as of August 17th, the cumulative number of newly confirmed cases in Japan in the past month has exceeded 6 million. On the 18th, the number of newly confirmed cases in Japan exceeded 255,000 in a single day, reaching a record high again.

The high number of infections has overwhelmed the Japanese medical system, and medical resources are currently under strain in many places. For instance, the occupancy rate of COVID-19 beds on the main island of Okinawa Prefecture has exceeded 100%, and beds for patients other than COVID-19 infections are also very tight, making it very difficult to be hospitalized for injuries or sudden emergencies. Moreover, the utilization rate of COVID-19 hospital beds in Kanagawa Prefecture reached 91%, Aichi Prefecture and Shiga Prefecture exceeded 80%, Fukuoka Prefecture, Nagasaki Prefecture, Shizuoka Prefecture, and many other places exceeded 70%, and the utilization rate of hospital beds in Tokyo was close to 60%. According to data released by the Fire Department of Japan's Ministry of Internal Affairs and Communications, there were 6,747 cases of "difficulty in emergency medical care" in Japan from 8th to 14th, a record high for three consecutive weeks. "Difficulty in emergency medical care" refers to cases where a patient is rejected more than 3 times by hospitals, reflecting that it is difficult for a patient to be sent to a doctor in time. Additionally, 14 medical institutions in Kyoto Prefecture, including the Affiliated Hospital of the Faculty of Medicine of Kyoto University, issued a joint statement a few days ago, saying that the spread of the seventh wave of the COVID-19 pandemic has reached a "catastrophic level" and that the medical system is now in a collapsing situation where "lives that could have been saved cannot be saved".

Some analysts believe that the main reason for the spread of this wave of pandemics in Japan is that the Omicron BA.5 is diffusive, which is the most contagious variant and has a high reinfection rate for people who have been vaccinated or have been infected. Studies show that as many as 98% of people infected with the BA.5 strain have been vaccinated or previously infected with COVID-19.

Some experts believe that under the current pandemic prevention policy, this pandemic wave in Japan is far from its peak and will continue for a long time.

II. Technical Analysis

2.1 CME Nikkei Monthly Chart

CME Nikkei: COVID-19 Infections in Japan Reach a New High, Medical System Overwhelmed _1

Candlestick: This month, the real body of the candlestick broke the downtrend line started on September 30th, 2021, indicating that the overall bullish trend of the Nikkei officially starts.

2.2 CME Nikkei Weekly Chart

CME Nikkei: COVID-19 Infections in Japan Reach a New High, Medical System Overwhelmed _2

Candlestick: This week closed with a spinning top candlestick, indicating the forming of a phased top. Moreover, the high of 29920 above is the key resistance, suppressing the ascending of the price by the upper band of the ascending channel starting from July 1st, 2022.

It also indicates the movement of this week may approach the phased top. It may maintain fluctuations at highs or turn bearish next week.

2.3 CME Nikkei Daily Chart

CME Nikkei: COVID-19 Infections in Japan Reach a New High, Medical System Overwhelmed _3

Candlestick: Suppressed by the upper band of the ascending channel starting from June 21st, 2022, above. Besides, the key level is still 29220, indicating that 29920 is the end of the decomposed band and the end of the general wave. Therefore, it is possible to turn bearish with fluctuation next week.

2.4 CME Nikkei Hourly Chart

CME Nikkei: COVID-19 Infections in Japan Reach a New High, Medical System Overwhelmed _4

Candlestick: The key support below is near 28620. The double tops of the section indicate the price today peaks.

Trend moving average: The trend lines 89 and 144 are still in a long arrangement, and the trend is mostly the main trend unchanged. The bears are dominant, and it is highly probable for a price correction in the evening session today.

Hourly key support level: The price breaks below the hourly support level of 28995, indicating that the correction trend will continue today.

MACD: Both lines are back to the zero axis with further space below.

CCL: Bulls are reducing their holdings, confirming the correction again this evening.

Short-term moving average: the moving averages combine as one without deviation, indicating a high possibility of the price stepping back to the moving averages. It is recommended to go short at highs.

Fast and slow trendlines: Forming a death cross at the overbought area, indicating sufficient space below.

CME Nikkei: COVID-19 Infections in Japan Reach a New High, Medical System Overwhelmed _5

For CME Nikkei, it is recommended to go short at highs.

Entry price: 28980

Take profit: 28810

Stop loss: 29145

Risk Warnings and Disclaimers

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Winkelmann

Central Bank

Summary:

The US dollar (USD) has strengthened again due to hawkish speeches from Federal Reserve (Fed) officials. This has suppressed gold prices significantly, with the strong strength of the bears in the short term. Therefore, a further fall below 1750 cannot be ruled out.

SELL XAUUSD

Close Time

CLOSED

1759.50

Entry Price

1732.00

1776.00

2770.80 +16.23 +0.59%

41.2

Pips

Profit

1732.00

1755.38

Exit Price

1759.50

Entry Price

1776.00

Fundamentals

The minutes of the July Fed meeting indicated that a slower pace of interest rate hikes could be appropriate sometime in the future, with an overall dovish bias. As a result, market bets on an aggressive Fed rate hike in September cooled down. Besides, combined with continued geopolitical tensions such as between Russia and Ukraine and fears of a global recession, there is still certain support for gold.

However, a number of Fed officials delivered hawkish speeches on Thursday evening. President of Federal Reserve Bank of Kansas City, Esther George, stated that Fed officials would continue to discuss the speed of rate hikes, but they would not stop tightening until they were "fully convinced" that inflation was pulling back. Kashkari, President of the Federal Reserve Bank of Minneapolis, stated that inflation must be driven down as soon as possible, even at the cost of triggering a recession. The US job market has continued to grow strongly in recent months. Despite rising interest rates, US initial jobless claims fell again last week. Given the strong momentum in the economy, the Fed needs to continue to raise borrowing costs to control high inflation. As a result of this, the USD strengthened again, setting a new high of nearly a month, which suppressed gold prices significantly.

In the coming period, the market's focus will turn to the consumer price index (CPI) and non-farm payrolls in August to determine whether inflation is slowing down and whether the labor market has weakened. At that time, there is a risk that the USD will weaken again, and bulls of gold will rise again. The gold price remains bearish in the short term. Before the release of the non-farm payrolls, it is important to focus on the speeches of the Fed officials and the expected changes in the Fed's policy.

Technical Analysis

XAUUSD: Has the Potential to Form a "Bearish Engulfing" Pattern in the Weekly Chart, with Strong Gold Bears_1

In the weekly chart, XAUUSD pulled back under the resistance from the 1800 mark, with a clear signal of peaking in the short term. There is already a bearish engulfing pattern in the weekly chart before a weekend when the markets are closed, with strong bears. The descending trend is expected to continue further.

XAUUSD: Has the Potential to Form a "Bearish Engulfing" Pattern in the Weekly Chart, with Strong Gold Bears_2

In the 4H chart, XAUUSD continues to oscillate to the downside and has successively broken below the short-term support of 1785, 1770, and 1760. The price can fall further with momentum in the short term. Once breaking below the key support level around 1750, the price can accelerate its fall. However, the indicator RSI has approached the oversold territory, a rally and adjustment in the short term can be a better opportunity to go short.

It is recommended to go short with small positions when the price rallies to near 1760. The target is set near the support level of 1730, with a stop-loss set above 1770.

Trading Recommendations

Trading direction: Short

Entry price: 1759.5

Target price: 1732.0

Stop loss: 1776.0

Support: 1750/1730

Resistance: 1785/1770

Risk Warnings and Disclaimers

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Winkelmann

Summary:

BRENT continued to fluctuate in a downward trend. Although the decline has weakened with rebounds and consolidation, the overall trend is still bearish.

SELL BRENT

Close Time

CLOSED

96.000

Entry Price

90.000

100.200

77.527 +0.238 +0.31%

420.0

Pips

Loss

90.000

100.204

Exit Price

96.000

Entry Price

100.200

Fundamentals

The number of Americans filing for unemployment benefits decreased last week. The Philadelphia Fed manufacturing index unexpectedly rose to +6.2 in August from -12.3 in July, the highest since April. The resilience of the labor market and upbeat economic data boosted oil prices in the short term. In addition, OPEC Secretary-General Guise said the lack of investment by policymakers, lawmakers, and the oil and gas industry caused high energy prices. Despite the recent drop in oil prices, the spot market maintains strong demand and is optimistic about the outlook for oil demand next year, which further contributed to the rebound in oil prices.

However, the prospect of the Iran nuclear deal is still unclear, and given that many previous efforts are wasted, caution is still needed before the implementation. Besides, affected by concerns of a global economic recession, expectations of a decline in demand have completely prevailed, while the global pandemic is still spreading, especially in Japan, China, and other places, sparking concerns about reimposing lockdown restrictions and thus weakening crude oil demand.

Furthermore, central banks around the world are accelerating the tightening of monetary policy to curb inflation, oil prices are still facing greater downward pressure.

Technical Analysis

BRENT: Oil Prices Rally Shortly but Remain Bearish_1

Referring to the daily chart, BRENT continues to fluctuate downwards, showing an obvious double tops pattern in a larger weekly level. Although the short-term rebound is consolidated, the overall bearish pattern remains unchanged, making it possible to decline further.

BRENT: Oil Prices Rally Shortly but Remain Bearish_2

Regarding the 4-hour chart, BRENT's recent decline has slowed down with narrowed volatility. In addition, the short-term rebound reaches to the neckline support level of the double tops near 96.0. If it fails to break above the previous high of 99.6, it will still tend to be bearish.

It is recommended to go short when it rebounds near 96.0, with the target set closed to the support level of 90.0 below and the stop-loss set above 99.6.

Trading Recommendations

Trading direction: Short

Entry price: 96.0

Target price: 90.0

Stop loss: 100.2

Support: 90.0/91.5

Resistance: 96.3/99.6

Risk Warnings and Disclaimers

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Eva Chen

Central Bank

Summary:

The minutes of the July 26-27, 2022 Federal Open Market Committee (FOMC) meeting showed that "curbing inflation remains critical to the Federal Reserve." Gold market signals suggest that the downside is strengthening, which conflicts with market expectations that the Fed will turn as inflation cools.

SELL XAUUSD

Close Time

CLOSED

1757.64

Entry Price

1720.00

1774.00

2770.80 +16.23 +0.59%

191.3

Pips

Profit

1720.00

1738.51

Exit Price

1757.64

Entry Price

1774.00

Fundamentals

Regarding economic developments, committee members noted that "recent indicators of spending and production have softened. Nonetheless, job growth has been strong in recent months and the unemployment rate has remained low. Inflation remains high, reflecting supply and demand imbalances associated with the pandemic, higher food and energy prices, and broader price pressures."

The Committee also stated that "inflation remains unacceptably high, well above the Committee's longer-term target of 2%. In addition, participants noted that the rise in inflation was broad-based and that they saw little evidence that inflation had begun to abate."

Committee members said that "war and related events are putting additional upward pressure on inflation and are putting pressure on global economic activity."

Committee members expect that "continued upward revisions in the target range for the federal funds rate will be appropriate to achieve the Committee's objectives. However, the pace and extent of future policy tightening will depend on the current macroeconomic backdrop."

For the first time, FOMC members acknowledged the changing nature of the economic environment and the existence of long and variable lags in the impact of monetary policy on the economy, as well as the potential for the Committee to tighten the policy stance beyond what is necessary to restore price stability.

The key implications are as follows. The minutes confirm that re-establishing price stability remains the Fed's primary objective. Uncertainty around the Russia-Ukraine conflict only adds to upside risks. In addition, the labor market continues to strengthen, with employment already exceeding pre-pandemic levels and the unemployment rate on par with February 2020 levels. The Fed also acknowledged that its mandate is highly uncertain and that there is a risk of tightening interest rates "more than necessary".

The market has been worried about this risk. Fears of a recession continue to rise, with some surveys showing that the likelihood of a recession in the next 12 months has increased to 50%. These concerns are also reflected in the spread between the U.S. 10-year and 2-year Treasury yields, which remains in negative territory. We expect the Fed to continue to raise rates this year and then pause to monitor the impact of its actions on economic activity and inflation.

In summary, the extent of Fed rate hikes continues to depend on future economic data, but also acknowledges the risk of excessive rate hikes, while arguing that inflation remains unacceptable and that high inflation should be sustained for a long time. It can be said that the minutes are dovish and the Fed wants to strike a balance between controlling inflation and sustaining economic growth. However, it is worth noting that despite the admission of excessive rate hikes, July is still the most aggressive one. Going by this aspect, a 75 basis point rate hike in September still cannot be effectively discharged, but the probability is that it will be a 50 basis point hike.

Next week is the annual meeting of global central banks. The market focus is focused on the Fed's understanding of inflation, rate hikes, and economic growth, with the sentiment on the negative side for gold.

XAUUSD: Fed's July Meeting Minutes Are Dovish, Still Poses Downside Risk to Gold _1

Technical Analysis

During the New York session on Thursday, gold prices rose above $1770 before reversing and dropping below the $1760 mark in one fell stroke, amid falling U.S. Treasury yields. The strength of the USD may continue to push gold prices lower.

With the downside range being broken repeatedly, any further positive moves could be seen as a selling opportunity. It is recommended to go short at highs.

Trading Recommendations

Trading Direction: Short

Entry Price: 1758

Target Price: 1720

Stop Loss: 1774

Valid Until: 2022-09-01 20:00:00

Support: 1760

Resistance: 1750, 1748, 1734

Risk Warnings and Disclaimers

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Data

Dow Jones Industrial Average: U.S. Stocks Remain Weak with Weak U.S. Housing Demand and Quantitative Tightening

Fundamentals

Technical Analysis

Weak in Europe and Strong in the US with the Euro Expected to Hit Parity Again

Fundamentals

Technical Analysis

Trading Recommendations

Officials Changed Market Expectations, Providing Support for the USD

Fundamentals

Technical Analysis

Trading Recommendations

CME Nikkei: COVID-19 Infections in Japan Reach a New High, Medical System Overwhelmed

I. Fundamentals

II. Technical Analysis

Has the Potential to Form a "Bearish Engulfing" Pattern in the Weekly Chart, with Strong Gold Bears

Fundamentals

Technical Analysis

Trading Recommendations

Oil Prices Rally Shortly but Remain Bearish

Fundamentals

Technical Analysis

Trading Recommendations

Fed's July Meeting Minutes Are Dovish, Still Poses Downside Risk to Gold

Fundamentals

Technical Analysis

Trading Recommendations

Risk Disclosure