September 1, 2022 ATFX “Ming Tian Guan Hui”|Fang Gezi vocus

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September 1, 2022 ATFX “Ming Tian Guan Hui”

Market risk, the investment need to be cautious! Happy trading!

The dollar adjusted but the monthly line was three consecutive positives.

【Market Review】

U.S. private payrolls rose only modestly by 132,000 jobs in August, although concerns over aggressive Fed rate hikes persisted. U.S. stocks closed lower for a fourth straight session on Wednesday and posted their weakest August performance in seven years. Throughout August, the Dow fell 4.06%, the S&P 500 fell 4.24%, and the Nasdaq fell 4.64%.

The dollar retreated against a basket of currencies, but remained close to a 20-year high hit on Monday, after a three-month winning streak in August. The euro rose modestly yesterday, with a three-month losing streak; sterling posted its worst monthly performance against the dollar since October 2016.

Gold prices slid to a near six-week low overnight, barely holding $1,710, the longest losing streak since 2018. Oil prices continued their downward trend, with U.S. oil further falling below the $90 mark, and the monthly line in August recorded three consecutive declines.

【Key Prospects】
The data on the day focuses on the final value of the manufacturing PMI of various countries in August. The US ISM manufacturing PMI in August is the focus of attention, which is expected to slow down slightly to 52 (the previous value was 52.8). In addition, look at the number of chief unemployment benefits last week, which is expected to increase slightly from last week to 248,000 (previous value of 243,000).

【Important Economic Calendar】
08:30 Japan’s August manufacturing PMI final value**
09:45 China August Caixin Manufacturing PMI**
15:55 Germany August manufacturing PMI final value**
16:00 Eurozone August manufacturing PMI final value**
16:30 UK Manufacturing PMI for August **
17:00 Eurozone July unemployment rate**
20:30 US chief unemployment benefits last week***
20:30 Canada July Building Permit**
21:45 US August Markit Manufacturing PMI final value**
22:00 US August ISM manufacturing PMI and July construction spending***
Note: * is the degree of importance

【Market Analysis】
EURUSD
1.0078/1.0134 resistance
1.0010/0.9953 support
The inflation rate of the euro zone hit a record high again in August, consolidating the reason for the European Central Bank to raise interest rates sharply, and the euro was able to rise for three consecutive days, but this morning, the pressure of taking back again, the exchange rate fell to the 4-hour chart 10 moving average, whether it can hold or decide whether the euro It will drop below the 1.0 parity level again.

GBP to USD
1.1635/1.1699 resistance
1.1555/1.1495 support
Lack of positive support and market worries about the economy, GBP/USD continued to expand its decline. It has recorded a four-day losing streak yesterday, further refreshing the low since March 2020. After further falling below the 1.16 mark this morning, the lower 1.1555 initially supported entry. sight.

USD/JPY
139.87/140.75 resistance
139.02/138.17 support
USD/JPY continued the closing high of the previous four days this morning, and has surpassed the high set on July 13 during the session. If it is confirmed to close above this level within the day, it will officially target the 140 mark, but pay attention if the high range meets resistance, then it will be adjusted to below the 139 mark again.

USD/CNY
6.9292/6.9549 resistance
6.8876/6.8672 support
USD/RMB fell from its highs yesterday after three consecutive gains, but did not deviate significantly from the lows. The 4-hour chart shows that the bulls are still looking for opportunities to rebound again. If they break through the moving average resistance again, they are expected to challenge the recent high of 6.9292 again.

USD/CAD
1.3178/1.3224 resistance
1.3132/1.3074 support
Oil prices continued to fall and were negative for the Canadian dollar. After rising for two consecutive days, the US dollar against the Canadian dollar continued to record highs since July 14 this morning, which means that it is expected to challenge the previous high resistance above 1.32. But again, it is necessary to test the initial resistance level of 1.3178 before conquering the previous high. If there is a tendency to encounter resistance, turn to the support of the 10 moving average near 1.31.

US Crude Oil Futures (Oct)
90.20/91.91 resistance
87.62/85.75 support
Due to concerns about the impact of interest rate hike prospects on the economy, oil prices continued to decline. The 4-hour chart increased the adjustment from the high level. Under the resistance of the moving average, after the price fell below the $90 mark, you should pay attention to the previous low near $85.75 as the target. But at present, $87.62 can act as support first.

spot gold
1714/1729 Resistance
1699/1680 support
The price of gold fell by about 3% in August, the fifth consecutive month. After falling to a new low since late July, pay attention to whether it will further approach the $1700 mark. Support, but it is expected that the wait-and-see mood before non-farm payrolls will ease and decline sharply. Spot silver concerns 18.10/18.52 resistance and 17.45/17.03 support.

US Dow Jones Industrial Average futures US30
31887/32315 resistance
31033/30504 support
U.S. stocks fell for the fourth consecutive trading day on Wednesday. The market continued to be hampered by expectations of interest rate hikes before non-farm payrolls. The Dow fell 280 points overnight and traded around 31,500. Tonight, the U.S. manufacturing PMI and the number of leaders Provide guidance on whether to test the lower 31000 mark or have a chance to rebound.

US S&P 500 SPX500
4024/4095 resistance
3881/3811 support
The S&P 500 index fell 31.16 points, or 0.78%, and is currently trading near the 3952 support level, as the market chooses to wait and see more economic data. If there is still adjustment at present, but if it stays above the 3900 mark, it can ease some of the decline. potential.

US NASDAQ index NAS100
12380/12697 resistance
12063/11746 support
The Nasdaq index fell 66.93 points, or 0.56%, overnight. The slowdown in the decline indicates that the market intends to wait and see various data for the rest of the week. The current technical 4-hour chart seems to have a signal of consolidation around 12200. If a bottom is found temporarily, It is concerned about the possibility of a rebound but needs to be matched by economic data tonight.

Japan’s Nikkei 225 Index JP225
27770/27947 Resistance
27373/27199 support
After two consecutive days of decline, the Nikkei 225 index expanded this morning and recorded its lowest level since early August. If it cannot hold 27600, it will target the low before the 4-hour chart, which means that the low level of 27373 is worthy of attention, and the rebound needs to be first Break the resistance at 27770.

China A50 Index CHI50
13550/13620 resistance
13386/13284 support
The A50 index ended a three-day losing streak yesterday, but the momentum also slowed after the bulls were rejected above 13600. The current trading is in a narrow range between the 4-hour chart moving averages to see if there is a chance to break above 13500 again, otherwise it may be Adjust more gains to look at the 13386 level.

Hong Kong Hang Seng Index HK50
19922/20100 Resistance
19564/19388 support
HK50 also rose with CHI50 yesterday, but it gave up half of its gains in late trading. There is room for adjustment this morning. The current trading is below the moving average of the 4-hour chart, so it also dropped to support below 19700. Only by crossing the moving average again can we seek a rebound again. .

The content is for reference only: there are risks in the market, and investment should be cautious. Happy trading!

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