EUR/USD 1.16452
-0.054%
Gold 4579.39
-0.484%
Oil 82.464
-0.601%
USD/JPY 159.468
0.050%
GBP/USD 1.35888
-0.026%
GBP/JPY 216.686
0.024%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Gold mining stocks are surging, with August gains exceeding any months performance of chip stocks in recent years. The MSCI World Gold Mining Index has risen 43% this month, on track for its biggest monthly gain on record. The MSCI World Semiconductor Index and the Philadelphia Semiconductor Index both posted their best monthly performances this year in April, rising 27% and 38% respectively. This rally was swiftly triggered earlier this month after the U.S. Treasury unexpectedly announced plans to expand bond buybacks and lower borrowing costs. Tomasz Godziek, head of equities at Gain Capital, stated, "From an equity investment perspective, gold is one of our most overweight sectors." He is bullish on the investment logic of a depreciating dollar and also believes gold is a strategic asset that central banks can use to diversify their reserves. Meanwhile, rising global bond yields and increasing market skepticism about the returns on massive AI spending are putting pressure on technology stocks.August 28th - According to an exclusive report by the British newspaper *The Guardian* on the 27th, the US-led war against Iran has plunged the US military into a "severe financial crisis," forcing the US Navy to divert funds from salaries and other sources to pay for operations. The report states that the joint US-Israeli military operation against Iran has placed enormous pressure on the overall US military budget. This military operation has depleted US ammunition reserves and triggered retaliatory strikes from Iran, which damaged multiple US strategic bases in the Middle East.On August 28th, Hu Jianbo, President of the National Data Development Research Institute, stated at the opening ceremony of the 2026 China International Big Data Industry Expo that intelligent agent applications are driving the accelerated development of word element services. By 2025, my countrys intelligent agent patent authorizations are expected to exceed 3,400, more than double the growth rate of the previous year, indicating a significantly faster pace of innovation.August 28th - Data released by the Ministry of Industry and Information Technology on the 28th shows that my countrys 5G network construction has progressed steadily this year. As of the end of July, the total number of mobile phone users of the three major telecom operators and China Broadcasting Network reached 1.847 billion, of which 1.303 billion were 5G mobile phone users, accounting for 70.5% of all mobile phone users. The data also shows that the construction of new infrastructure has been progressing smoothly in the first seven months. As of the end of July, the total number of 5G base stations reached 5.154 million, a net increase of 316,000 compared to the end of last year; the number of broadband internet access ports nationwide reached 1.27 billion, of which 1.23 billion were fiber optic access (FTTH/O) ports, a net increase of 19.35 million compared to the end of last year, accounting for 96.7% of all broadband internet access ports.On August 28th, the National Development and Reform Commission (NDRC) held a press conference. A spokesperson stated that, as of now, the national electricity load during this years peak summer season has reached four record highs, peaking at 1.557 billion kilowatts, an increase of approximately 50 million kilowatts compared to last years record. NDRC spokesperson Li Chao stated that the NDRC will closely monitor and dynamically track changes in the situation, promptly handle any emergencies, and ensure the successful completion of this years energy supply guarantee task for the peak summer season. Simultaneously, based on previous work, the NDRC will conduct in-depth analysis of this years energy supply and demand situation for the heating season, organize and carry out various preparations early, and solidly carry out all work related to energy supply guarantee for the peak winter season, making every effort to ensure that the people stay warm during the winter.

The chances of a bearish reversal for the USD/CHF rise as bears test the 200-EMA

Daniel Rogers

Jul 19, 2022 11:59

 截屏2022-07-19 上午10.03.58.png

 

The USD/CHF pair has gone sideways after exhibiting volatile volatility on Monday. The asset will likely trade sideways until volatility decreases since it hits resistance at 0.9780. As a result of failing to exceed the crucial resistance level of 0.09000, the asset saw a substantial fall.

 

A major negative reversal was foreseen by the formation of the Double Top chart pattern when the price failed to maintain its position above Tuesday's high at 0.9859. The aforementioned chart pattern frequently indicates waning demand at high levels. A negative reversal is now more likely as a result of the development of a selling tail around high levels.

 

Following the formation of a double top, the asset is forming an initiative selling structure, which points to the entry of those investors who start short positions after a bearish bias has been created. At 0.9767, the major is forming an initiative structure inside the 200-Exponential Moving Average (EMA) border, demonstrating that market participants are respecting the significant EMA.

 

However, the Relative Strength Index (RSI) (14), which signals an oncoming consolidation, has shifted into a range between 40.00 and 60.00. The asset will reach the July 5 top of 0.9705 with a sharp decrease below the July 13 low of 0.9758. If the latter barrier is breached, the asset will be more vulnerable to losses up to the 1. July high of 0.9642.

 

Alternatively, following Wednesday's violation of the 0.9827 high, the dollar bulls may defend the double top pattern. The asset will be propelled by this to its top on Thursday of 0.9886 and then encounter psychological resistance at 1.0000.


Suggestion