Overview on US Dollar Index (DXY)

US Dollar Index (DXY), which measures the volatility of the greenback with 6 major currencies (#EUR, #JPY, #GBP, #CAD, SEK, #CHF) standing above 94.0 points.

The greenback in the international market continued to appreciate when the US economy faced many uncertainties.  The USD rose to the highest level since November.- According to experts, world inflation tends to increase and is no longer a "transient" phenomenon as assessed by central banks in a few months.  via.  This scenario will probably cause the US Federal Reserve (Fed) to start tightening quantitative easing from November.

The greenback rose as US Treasury Secretary Janet Yellen testified in the US Senate that if the Biden administration failed to raise the public debt ceiling, it would lead to a financial crisis.

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Comment on XAUUSD H1 by Money Life Research

 Yesterday’s market price decline, occurred after a breakout that occurred in the support area with a morubozu candle on the H1 timeframe.

 So through the current chart now what can be seen through the current potential?  The current chart is uptrend after the market opened and did not pass yesterday's lows.

 Continuing that, I see this rise is a retracement that took place in the early morning and the possibility of the price being able to reach at 1743.00 where it is the closest resistance area to the current price.

 In addition, at the price there is a confluence where the support price and has a trendline drawn through the timeframe M15, so I will look at the chart if there is a reversal movement, the mark as an entry point will be done.

Accompanied by risk management between 1: 2-1: 3 can be taken at a lot fixed rate according to the available account capacity.

 The price seen as a whole has a breakout at the lowest price, it is likely that if the US session opens, traders can see an interesting movement through gold now, that is in case of momentum.

 Follow us to always know the science of trading as well as the latest updates on technical analysis & fundamental analysis

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Market Outlook: Gold/XAUUSD

 Gold inched higher shortly after the New York session on Monday despite a rise in Treasury yields and the U.S. Dollar. An overnight reversal to the downside in the U.S. stock indexes may be helping to underpin prices, but more than likely, the market may have found a sweet spot on the chart where it is neither too bullish nor too bearish.

- This pattern is a continuation event that pauses before it refreshes lower. Medium-term momentum has turned negative and generated a crossover signal.

Technical View 

- A sustained move over 1758 will indicate the presence of buyers. The first upside target is 1762.90. Taking out 1762.90 could trigger an acceleration into a resistance cluster at 1787 to 1788.

- A sustained move under 1758 will be the early sign of weakness.

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Weekly Overview on Oil by Money Life Research

 MARKET VIEW

Weekly changes: XBRUSD +4.34%

The oil prices are rebounding to multi-year highs. XBRUSD settled near a three-year high at 77.25 USD, its best level since October 2018.

BULLISH TRIGGERS

Oil demand will be growing steadily amid the ongoing economic recovery while the supply outlook remains stable thanks to production discipline by OPEC+. The latest EIA report shows that U.S. crude stockpiles declined for the seventh consecutive week. According to the U.S. Energy Information Administration, U.S. crude inventories fell by 3.5 million barrels last week. India’s oil imports hit a three-month peak in August.

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BEARISH TRIGGERS

There might be a significant downwards correction, according to Bloomberg Intelligence senior commodity strategist Mike McGlone. He notes that the last two influential crude declines in 2018 and 2020 were almost tick-for-tick with SPX500. The 20-quarter correlation between the Bloomberg Commodity Spot Index and SPX500 currently sits at 0.90, the highest reading since 1960. The BI analyst says the last time the correlation peaked was back in 2013, followed by the spectacular oil price crash of 2014, which then spread to the rest of the commodities complex.