Market Reviews of the Previous Day:
During NY session on 13 September, the dollar rose and fell against major currencies, and the euro rose slightly against the dollar. Market will continue to focus on the latest news of debt crisis in the Eurozone. Under the influence of various rumors, market sentiment was erratic.
Foreign exchange market basically continued the previous technical trend.
GMT+8 16:30 UK Unemployment Rate (August);
GMT+8 17:00 Eurozone Industrial Production (July);
GMT+8 20:30 US Producer Price Index (August);
GMT+8 20:30 US Retail Sales (August);
GMT+8 22:00 US Business Inventories (July).
Gold:
Gold opened at 1815.03 USD on 13 September, with intra-day Low at 1800.32 USD and intra-day High at 1843.74 USD, eventually closing at 1834.93 USD. Intra-day range of 43.42 USD was seen.
The current downside supports are the trend line 1780 USD constituted by connections of the low points at July 1 and August 25, and the predicted minimum target level of 1,759.
The current long period of the uptrend is perfect. Gold turned to significant adjustment in the mid-term.
Trading suggestions:
The partial oscillation range is at 1885.70-1792.50. Trading around the upside and downside range could be considered when opening position.
During NY session on 13 September, the dollar rose and fell against major currencies, and the euro rose slightly against the dollar. Market will continue to focus on the latest news of debt crisis in the Eurozone. Under the influence of various rumors, market sentiment was erratic.
Foreign exchange market basically continued the previous technical trend.
September 13, international gold closed slightly higher. The bid rate of the Italian five-year government bond has been recorded the highest level among similar bonds since the establishment of the Eurozone, The worry of European debt went up.? In addition to the retreat of the dollar, gold price was pushed up, and eventually close modestly higher.
Key Economic Data and Events:GMT+8 16:30 UK Unemployment Rate (August);
GMT+8 17:00 Eurozone Industrial Production (July);
GMT+8 20:30 US Producer Price Index (August);
GMT+8 20:30 US Retail Sales (August);
GMT+8 22:00 US Business Inventories (July).
Gold:
Gold opened at 1815.03 USD on 13 September, with intra-day Low at 1800.32 USD and intra-day High at 1843.74 USD, eventually closing at 1834.93 USD. Intra-day range of 43.42 USD was seen.
Gold rose slightly on Tuesday. It rebounded near the low level at September 7. The adjustment at high level and fluctuation were significant.
Suppose the partial channel was constructed at September 7 and September 12, the up moving range of which will reach1890. The further resistance will be at the record high 1,920.38.The current downside supports are the trend line 1780 USD constituted by connections of the low points at July 1 and August 25, and the predicted minimum target level of 1,759.
The current long period of the uptrend is perfect. Gold turned to significant adjustment in the mid-term.
Trading suggestions:
The partial oscillation range is at 1885.70-1792.50. Trading around the upside and downside range could be considered when opening position.
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