Only when you experience setbacks in everything, you will realize that it is not easy to get. Things that are easily obtained are always too simple to cherish. This is human nature. Success is not that you don't work hard enough, but that you don't persist enough. 99% of the road is gone, but it is easy to fall in front of the 1% because you give up too early.
The chairman of the Federal Reserve ended his congressional testimony speech. Not surprisingly, he really began to clarify the content on Tuesday, denying the Fed’s confirmation of a 50-point interest rate hike, and emphasizing the need to observe future data before making a decision. Yesterday's market took a breather, and US stocks and commodities began to rebound.
In addition, the Bank of Canada also announced that it will stop further interest rate hikes and maintain the current interest rate level of 4.5%. We know that Canada and the U.S. basically wear the same pair of pants, and their monetary policies go hand in hand. Canada’s stop raising interest rates this time is also a reference for the market to judge the Fed’s policy. Does it mean that Powell’s claim that the rate hike is accelerating is just a bluff? After all, practical actions don't lie
However, it should be noted that last night's ADP employment data in the United States in February showed an increase of 242,000, which was much higher than the previous value of 110,000 and the expected 200,000, indicating that the job market is still very tight. Friday's non-farm payrolls lay the groundwork
Another highlight tomorrow is the interest rate decision of the Bank of Japan, which is the curtain call performance of the current Governor Kuroda. The market generally believes that the policy of the Bank of Japan will not change. However, a handful of investment banks, including Goldman Sachs and BNP Paribas, see the potential for Haruhiko Kuroda to adjust or cancel his yield-curve control program as he winds down his 10-year tenure as BOJ governor. If Kuroda decides to make a big change at this meeting, he will also break with the practice of past BOJ governors. Personally, I think this possibility is relatively high. On the one hand, it can lay the foundation for the next president and leave the blame to himself. At the same time, it can also allow Japan’s subsequent easing policies to continue, killing two birds with one stone. But the result is that the yen will face a big appreciation, which will trigger a chain reaction in the market.
Gold ushered in a rebound as scheduled yesterday, and the highest point reached 1824 perfectly. It should be a happy day for friends who have room to enter the market. After falling back this morning, the price of gold also failed to fall below the new low, and stood at the attention support level of 1808. It seems that the bearish power has died down.
Judging from yesterday's closing line, a doji actually does not mean that the price has completely stopped falling. If the positive line can be closed today, it will be the beginning of the bulls' counterattack.
In terms of indicators, the golden cross of the MACD fast-slow line at the daily line level has not failed, and is still in the rebound cycle, but the Bollinger Bands are slightly weaker, and the downward trend of the three tracks is obvious. The pressure on the middle track is currently around 1833. If today’s rebound is close to this , you can continue to try to participate in empty orders.
In short-term trading, relying on the unbreakable rebound at 1808, you can pay attention to the suppression and lighten the position at the resistance level of 1824 above. If you rush to 1833, you can backhand it!
Join me and I will guide you to a profitable trade 💵!
