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Sino-US trade sides add retaliatory tariffs, gold prices are unstoppable

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  • Sino-US trade sides add retaliatory tariffs, gold prices are unstoppable

    Sino-US trade frictions have become more and more fierce. The Chinese side announced on Friday (23rd) that it will impose an additional 5-10% tariff on US$75 billion of US products, including automobiles, crude oil, and agricultural products, scheduled for September 1. The day and December 15 were executed in two batches.
    US President Trump immediately released a tweet one hour after the US stock market closed on the US East Friday. The current US$250 billion export to the US is subject to a 25% tariff. The tax rate has increased to 30% since October 1. And the original 300 billion US dollars of Chinese products that will be subject to 10% tariffs from September 1st, the tax rate is now changed to 15%.
    Recently, the global financial market has increased its uncertainty. In particular, the Sino-US trade has not been effectively alleviated. There is also a retaliatory tariff increase. At the same time, the Federal Reserve may enter a rate cut cycle, causing market investors to flood into the gold market. It shows that since the bottom of 2016, the total amount of physical gold held by global gold ETFs has increased by as much as 1,000 tons.

    MT4 Technical Analysis (Gold XAUUSD):
    Using MT4 observation, today's gold (August 26) early in the vicinity of 1535.1 US dollars / ounce, from the technical analysis, the 4-hour level observation chart broke the convergence triangle, made a strong pull, mainly affected by Sino-US trade friction Next, get the boost, so there is a chance to continue to rise, using the MT4 platform to trade.
    Using MT4 observation, the current pressure range above the short-term line is located at 1555~1555.5 US dollars/ounce, the downward direction, the initial support range is 1530~1530.5 US dollars/ounce, the operation mentality is mainly short, and investors who want to enter the market to do more short can consider In the range of $1,533/oz to $1535.5/oz, you can buy a light position and the stop loss can be set below $1530.5 per ounce.

    MT4 Technical Analysis (EUR/USD EURUSD):
    Using MT4 to observe, today's EUR/USD (August 26th) early in the morning near 1.11502, cut from the technical analysis, 1 hour level observation trend bottom chip lock, multiple bottom support formation, while being affected by the weak dollar, the euro made Breaking the bottom of the market, so there is a chance to pull back and continue to rise.
    Using MT4 observation, the pressure range above the short-term line is located at 1.11700~1.11750, the downward direction, the initial support range is 1.11150~1.11200, and the operation mentality is mainly short. Investors who want to enter the market to be shorter will consider light in the 1.11300 to 1.11350 range. Buying a position, stop loss can be considered to set below 1.11220.

    MT4 Technical Analysis (GBP/USD GBPUSD):
    Using MT4 to observe, today's GBP/USD (August 26th) early in the vicinity of 1.22642, cut from the technical analysis, 1-hour line-level observation trend standard bottom height, high point up is a wave trend, so pull back correction The opportunity has risen again.
    Using MT4 observation, the pressure range above the short-term line is located at 1.23000~1.23050, the downward direction, the initial support interval is 1.22300~1.22350, and the operation mentality is mostly short. Investors who want to enter the market to be shorter will consider light in the 1.22630 to 1.22680 range. Buying a position, stop loss can be considered to set below 1.22510.

    MT4 Technical Analysis (Nasdaq Index Nas100):
    Using MT4 observation, today's Nasdaq (August 26) early in the morning near 7429.4, cut from the technical analysis, 1-hour line-level observation trend head neckline has officially fallen below, after the deep will rebound, so after the rebound, The opportunity fell again.
    Using MT4 observation, the pressure interval above the short-term line is located at 7530~7540 points, the downward direction, the initial support interval is 7350~7360 points, and the operation mentality is short-term. The investors who want to enter the market for the short-term can consider 7470 to 7485. Interval light warehouse buys, stop loss points can be considered to set above 7510.
    MT4 is a powerful trading tool to assist you to make better forex trading decisions. With MT4 platform, you can trade forex with convenience and invest easily with our maximum leverage. Let's download MT4 now!

  • #2
    I did notice that gold is rallying, now is the time to open longs.

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