Dear Client,

Warmly reminds you that the component stocks in the stock index spot generate dividends. When dividends are distributed, VT Markets will make dividends and deductions for the clients who hold the trading products after the close of the day before the ex-dividend date.

Indices dividends will not be paid/charged as an inclusion along with the swap component. It will be executed separately through a balance statement directly to your trading account, the comment for which will be in the following format “Div & Product Name & Net Volume ” .

Please note the specific adjustments as follows:

Note: The above data is for reference only, the actual execution data may be changed, please refer to the MT4 software for details.

If you’d like more information, please don’t hesitate to contact [email protected].

Daily Market Analysis

Market Focus

U.S. stocks eked out another all-time high and Treasury yields declined after a report showed consumer sentiment fell to the lowest level in nearly a decade. The dollar weakened and crude oil slumped. The S&P 500 closed at a record for fourth consecutive session while trading within a 0.2% range Friday. The consumer staples and real estate sectors led gains, while energy and financial shares declined. The benchmark index has almost doubled since the pandemic lows reached in March 2020, with the energy sector the biggest gainer during that period. Walt Disney rose after its streaming subscriptions beat estimates. European stocks posted the longest winning streak since 1999.

The U.S. equity rally slowed Friday after data showed the University of Michigan’s preliminary sentiment index fell by 11 points to 70.2, the lowest since December 2011. The slump in confidence risks a more pronounced slowing in economic growth in coming months should consumers rein in spending. The recent deterioration in sentiment highlights how rising prices and concerns about the delta variant’s potential impact on the economy are weighing on Americans.

The easing in the energy sector rally has also raised concern. On Tuesday, the energy sector capped a 19-day streak in which no member of the index traded above its 50-day moving average, the second-longest span since the late-1950s, data compiled by Sentiment Trader show. That’s something that hasn’t happened since the summer of 2001 when Enron and its ensuing bankruptcy was pressuring the energy complex.

Main Pairs Movement:

Crude oil futures eased in New York. The latest Covid-19 wave is leading to tighter curbs on movement across the globe, though there are mixed assessments on its impact. The International Energy Agency reduced its demand forecasts for the rest of the year, while Goldman Sachs Group Inc. predicts only a transient hit to consumption.

A gauge of the dollar retreated most in a month while haven currencies held on to broad gains as investors grew more concerned about economic prospects after a report showed U.S. consumer sentiment fell to the lowest level in nearly a decade.

Dollar remained weak as investors weighed whether the Federal Reserve may continue with its dovish stance following a plunge in consumer sentiment Friday and a drop in inflation earlier this weekFed officials including San Francisco Fed President Mary Daly and Chicago Fed President Charles Evans had earlier said conditions for tapering may soon be achieved. A measure of currency-market volatility declined to a two-month low on Friday

The Norwegian krone outperformed most peers as next week’s Norges Bank meeting comes into focus.

Technical Analysis:

GBPUSD (4-hour Chart)

GBP/USD pair extend daily rebound during the U.S. trading session after following a consolidation phase around 1.38 in earlier session, as of writing the pair was up 0.44% in the day at 1.3869. The renewed greenback on disappointing consumer confidence data from the U.S. deem to be fueling pound for upside traction.

For technical aspect, RSI indicator 54 figures as of writing, suggesting tepid bull-movement ahead. For moving average side, 15 long SMA indicator slightly head north and 60 long SMA indicator show flat movement in recently.

In lights of aforementional, we think market will successive choppy in range between 1.3896 and 1.38 level.

Resistance: 1.3896, 1.395, 1.4

Support: 1.38, 1.3745

EURUSD (4- Hour Chart)

The euro dollar rose forward and printed a weekly high at 1.1800 after yesterday miserable performance, as of writing, EUR/USD under 1.18 threshold at 1.1795 around with 0.56% gains in the day market. The pair is propping up as the U.S. dollar remains under pressure across the board. The University of Michigan Consumer Sentiment report, it is kicking off to accelerate to downside. The index tumble unexpectedly to 70.2, the lowest level since 2011.

From the technical perspective, RSI indicator has reached 66 figures, suggesting bullish momentum ahead. For moving average side, 15 long SMA indicator has change it way to upside and 60 long SMA indicator remaining negative way.

For the market movement, euro dollar finally breakthrough the upside resistance at 1.1755 level in the daily market which we expect a critical barricade. Moreover, short term SMA indicator support short term upside traction momentum for the pair. All in all, we expect market will continue bullish expectation and movement at least for short term. On upside, 1.18 level will be the psychological resistance for the pair, and 1.1848 following. On sideway, 1.1755 remain a critical price area for euro fiber. If price reverse to the bottom side below 1.1755, next critical support level will be 1.17

Resistance: 1.18, 1.185

Support: 1.1755, 1.17

XAUUSD (4- Hour Chart)

Gold price edged up by more than 1.4% on Friday, boosted by lower U.S. yields and weaker greenback. Gold trading at $1776.6 after resisted by 1780 threshold, the highest level in a week. U.S. yields tumble after the latest economic numbers. The 10-year dropped under 1.3% at 1.293 with 5% losses. In the late of the week, gold has erased weekly losses and is in positive territory after a reversal of $100 from the Monday flash plummet low.

For technical side, RSI indicator record 69 figures as of writing, suggesting bullish momentum at current stage. For moving average perspective, 15 long SMA indicator toward it slope to upward movement and 60 long SMA indicator retaining south way movement.

For current stage, RSI indicator is showing close to over bought territory that will restrict the upside traction. Therefore, we expect 1792 level is a pivotal resistance for the sell side position. For down side, we think short term support level will be 1761 and 1730 following behide.

Resistance: 1792, 1830,5

Support: 1761, 1730,1700

Economic Data

Daily Position Report

Market Focus

U.S. stocks set another record high even as the S&P 500 Index settles into the narrowest trading range since before the Covid pandemic roiled global financial markets. Health care and technology shares helped push the S&P to a closing high for a third consecutive session and for the 47th time this year. Micron Technology led chipmakers lower amid concern over the market for memory chips. Amid cautious sentiments, Nasdaq rose 0.35%, and Dow Jones gained just 0.04%.

The head of the Federal Trade Commission said antitrust enforcers should more frequently move to block mergers that threaten competition rather than relying on traditional remedies to fix deals and then approve them, a view that may weigh on a major acquisition by defense giant Lockheed Martin Corp.

FTC Chair Lina Khan outlined her concerns about common measures used by the Justice Department and the FTC to settle merger investigations in a letter to Senator Elizabeth Warren of Massachusetts, who had written to the agency about deals in the defense industry.

The comments come as the FTC is investigating Lockheed’s $4.4 billion deal to purchase Aerojet Rocketdyne Holdings Inc., a takeover seen as an early litmus test of whether President Joe Biden will keep mergers among defense contractors in check.

Khan said she’s skeptical of the practice of imposing conditions on how companies operate, known as behavioral remedies, but also said asset divestitures, the most common way that companies win approval for mergers, can be problematic.

Main Pairs Movement:

The dollar advanced against most of its mayor rivals as the market’s mood soured. Higher than expected US PPI revived concerns about heating inflation and a possible Federal Reserve’s response. Still, the greenback gains were tepid and uneven.

The euro pair and USDJPY lingering around the familiar levels, while cable bounced off 1.3800 and settle slightly above that level as of writing. Commodity-linked currencies lost ground against their American peer, as Loonie extended north, and both antipodean pairs edged lower. Overall, currencies followed the lead of Wall Street, which seesawed between gains and losses to end the day mostly in the red.

Gold is unchanged on a daily basis, trading around $1,750 a troy ounce heading into the Friday opening. Crude oil prices slightly dropped, with WTI failing to breach $70.00 resistance and closing the day at $68.90, and Brent at $71.15. US bond yields closed mixed. The 10-year US Treasury note settled at 1.36%.

Technical Analysis:

USDCHF (4-hour Chart)

The USD/CHF extend the upside traction above 0.92 and ahead of month-long peak as investor ignore Producer Price Index(PPI) rose to 7.8% in July from 7.3% in June in came in higher than estimation, pair printed 0.9235 with 0.16% gains as of writing. In the meantime, the benchmark 10 years U.S. Treasury bond yields is up more than 2% hover on Thursday, additional propel the pair stay afloat in the positive territory. For market data, the Michigan’s Consumer sentiment index for August will be featured in the U.S. economic docket.

For technical aspect, RSI indicator drag down from over bought area to 69 as of writing, suggesting torrid bullish sentiment ahead. For moving average side, 15 and 60 long SMAs indicator are both toward to north way.

In lights of aforementional, we expect market is facing a powerful resistance on 0.925 which base on price action. On the other hands, RSI indicator also shows a nearly over bought sentiment if market succesive rally up, then hold momentum back. Therefore, we foresee market will choppy in range between 0.9208 and 0.925 if price could continue hold above first support level. On contrast, it really hard to find a price cluster for downside support. Since, if price failed to defend first short term support, then price will forward to lower stage.

Resistance: 0.925, 0.927

Support: 0.9208, 0.9197, 0.915

EURUSD (4- Hour Chart)

EUR/USD pair shows bottomed at 1.721 then bounced to the upside trimming losses. It rose back above 1.173 on a quite session. It still remains in negative territory but off lows dollar’s momentum evaporates. The DXY index is still up for the day, but it printed slow movement at 93 threshold as greenback peaked after the release of U.S. initial jobless claims dropped as expected to 375K while fell under 3 million for the first time since the pandemic.

From the technical perspective, RSI indicator recovered from over sought territory and printed 39 figures, suggesting s bearish momentum ahead. For moving average side, 15 and 60 long SMA indicator are both heading to negative side.

As our mention previously, we expected if price drop below 1.1755, market momentum would drag it to lower lows that eyes on 1.17. In the day market, we see euro fiber was blocked by critical upper resistance at 1.1755 then turn it head back down slightly. All in all, we expect 1.17 will be the final support level for bid buyer. If break through the 1.17 level, then price will ahead to lower stage.

Resistance: 1.1755, 1.18, 1.185

Support: 1.17

USDCAD (4- Hour Chart)

The USD/CAD pair edged higher during the U.S. trading session and was last seen rising 0.22% on the day at 1.2526 level as of writing. Despite the recorvery witnessed following a two-day decline, pairs movement was restricted by a lack of high-tier macroeconomic data release. On the other hands, crude oil price trading to negative side under $69 per barrel and fail to provide directional clue to commodities-linked loonie.

For technical side, RSI indicator record 49 figures as of writing, suggesting slightly bearish movement but lack of direction. For moving average perspective, 15 long SMA indicator toward it slope to upwind momentum and 60 long SMA indicator shows north way momentum.

All in all, we think market is stucking in a modest range between 1.2485 and 1.2587. On upside, we see 1.2587 as critical resistance as neckline of a slightly pattern. On downside, a weakness and short term is eye on 1.2485, following a pivotal support level on 1.2425

Resistance: 1.2587, 1.2733, 1.28

Support: 1.2485, 1.2425, 1.23

Economic Data

Daily Position Report

PNL Changed (System Time 8/11 00:00– 8/11 23:50) Total PNL During the Day

Clients’ Gains were 1.317m ten minutes ahead of EOD.

Clients Profit

Clients Loss

Client Net Position

BOOK Exposure & Top PNL at EOD

Market Focus

US markets were mixed after the inflation report was not as bad as feared. The Dow Jones jumped 220.3 points, a new record high. The S&P 500 edged higher to 444.70 while the Nasdaq 100 closed with 0.1% lower. The consumer prices jumped 5.4% in July; however, the core inflation, which excluded energy and food, rose by 0.3% last month, less than the expectation of 0.4%.

According to Dallas Federal Reserve President Robert Kaplan, the central band should start tapering its monthly purchases of bonds in October. As the economy and employment become more healthier, the fed should be comfortable pulling back on the stimulus.

US President Joe Biden has pledged to wean off the fossil fuels and has called been more urgent. At the same time, Joe Biden’s administration has called Saudi Arabia and its allies to produce and unleash more crude oil onto global markets.

Main Pairs Movement:

Crude oil future edged higher on Wednesday after Joe Biden’s administration mentioned that it would not call on US crude oil producer to increase oil output. In the meantime, the administration indicated that the output from OPEC+ is not enough, might potentially harming global recovery. As a result, the crude oil price closed at 69.25, up 1.41% on Wednesday.

The Aussie closed higher at 0.73745 amid the concerns of the US inflation report and the resurgence of new variant delta cases. However, the currency pair seems to consolidate in a tight range as the decline of iron- ore prices and the protracted NSW lockdown, according to National Australia Bank.

The precious metal, gold, rose the most in three months as the dollar declined after the US inflation report, easing fears that the Fed might soon pull back stimulus. Gold edged as much as 1.5%, as closed in $1751 on Wednesday.

Technical Analysis:

GBPUSD (4-hour Chart)

Sterling caught some aggressive bids during the early New York session and shot to fresh daily tops, around the 1.3870-75 region in reaction to mixed U.S. inflation data. The headline CPI decelerate to 0.5% gains in July from the 0.9% increase recorded in the previous month. Additionally, core CPI, which excludes food and energy prices, rose 0.3% MoM against 0.4% expected and June’s 0.9%. This, along with Fed president comments, weghed on the dollar. For technical aspect, RSI indicator rebound to 51 figure, suggesting neutral momentum. For moving average side, 15 long SMA indicator turn static movement and 60 long SMA seems slightly downward.

In lights of aforementional, we still expect this pair will continue slightly move to sideway. If price fall ahead, the first immediately support level will eyes on 1.385 level in short term and 1.38 level follow. If price could go over the last highs spot which around 1.395, it will heading to over 1.4 level.

Resistance: 1.3896, 1.395, 1.4

Support: 1.38, 1.3745

EURUSD (4- Hour Chart)

EUR/USD pair recovered from a fresh low at 1.1705, yet the recoverystaled around 1.175 threshold, maintaining the tepid tone at 1.17368 as of writing. On Thursday, June industrial production data will be featured in the European economic docket. Later in the day, the weekly initial jobless claims and producer price index data from the U.S. will be looked upon for fresh impetus. From the technical perspective, RSI indicator recovered from over sought territory and printed 44 figures, suggesting slightly bearish momentum. For moving average side, 15 and 60 long SMA indicator are both heading to negative side.

As our mention previously, we expected if price drop below 1.1755, market momentum would drag it to lower lows that eyes on 1.17. In the day market, we see euro fiber was blocked by critical upper resistance at 1.1755 then turn it head back down slightly. All in all, we expect 1.17 will be the final support level for bid buyer. If break through the 1.17 level, then price will ahead to lower stage.

Resistance: 1.1755, 1.18, 1.185

Support: 1.17

XAUUSD (4- Hour Chart)

Gold clings to strong recovery gains on Wednesday as renewed dollar weakness helped it gain traction in American session, after released CPI data. As of writing, gold was up 1.4% on the day at $1753. The U.S. dollar index is currently down 0.2% on a daily basis at 92.88. At the same time, benchmark 10 years U.S. Treasury bond yields is down 2%. For technical side, RSI indicator record 48.5 figures as of writing, suggesting slightly bearish movement but lack of direction. For moving average perspective, 15 long SMA indicator toward it slope to upside momentum and 60 long SMA indicator shows south way momentum.

In light of price action, we see market literally rebound from rock bottom days ago to current stage as market revival from overly sell side sentiment. If momentum continue toward to downside, the first critical will on 1730. On up way, we expect 1751 will be strong resistance.

Resistance: 1751.5, 1792, 1830

Support: 1730, 1700, 1682

Economic Data

Dear Client,

To provide our clients with a wealth of trading options, VT Markets will launch new products on Augest 16, 2021.

The details as shown in the table below.

The above data is for reference only, please refer to the MT4 software for specific data.

If you’d like more information, please don’t hesitate to contact [email protected].

Daily Market Analysis

Market Focus

Slumping technology stocks stood in contrast to a broader gain in U.S. equities, exposing the lingering concerns about the ability of the economy to weather less stimulus and rising Covid outbreaks. While the S&P 500 and Dow Jones climbed to another all-time high, the tech-heavy Nasdaq declined along with Amazon.com Inc. Micron Technology Inc. led a decline in chip stocks, which slid for a fourth session. Energy shares rallied with oil. In Europe, the Stoxx 600 Index climbed for a seventh day.

The Senate passed a $550 billion infrastructure plan that would represent the biggest burst of spending on U.S. public works in decades, sending the legislation to the House where its fate is in the hands of the fractious Democratic caucus.

The bipartisan 69-30 vote Tuesday marked a significant victory for President Joe Biden’s economic agenda. It was a breakthrough that has eluded Congress and presidents for years, despite both parties calling infrastructure a priority and an issue ripe for compromise. Nineteen Republicans, including Minority Leader Mitch McConnell, joined with all 50 senators who caucus with Democrats to support the bill.

However, the bill still faces hurdles in the House, which is scheduled to be on break until Sept. 20. House Speaker Nancy Pelosi, under pressure from progressives who want their priorities addressed, has said she will not allow a vote on the bipartisan package until the Senate has passed the broader economic plan. Moderates, meanwhile, are clamoring for the House to take up the bill sooner than that.

Main Pairs Movement:

The greenback surged against European and safe-haven rivals but edged marginally lower against commodity-linked currencies, which were underpinned by the solid performance of crude oil and energy stocks.

The euro pair fell for a seventh consecutive day, heading toward the yearly low at around 1.1700. Cable settled around 1.3840, while Aussie added some 20 pips, and Lonnie hovered within the 1.2520 price zone. NZD/USD has been back to the 0.7000 level on Tuesday. USD/JPY extended its advance and trades at its highest in almost a month around 110.60.

Gold remained depressed, ending the day at $1,730 a troy ounce. Crude oil prices recovered some ground, with WTI ending the day at $68.50 a barrel, and Brent at $70.85. US Treasury Bond Yields continues their rising streak, with the 10-year yield closing the day at 1.3560.

Cryptocurrencies seesawed around the familiar price level amid the ongoing infrastructure bill negotiation which could impose tax requirements on digital assets. Though both Bitcoin and Ethereum ended the day red against the US dollar, their losses were within 2%.

Technical Analysis:

GBPUSD (4-hour Chart)

Pound trade near a daily low of 1.3827 with mounting pressure amid persistent dollar’s strength after spending most of the day hovering around the 1.385 level. The pair has declined with consecutive 4 days. At the same time, dollar remaining in the top spot on hawkish Fed and anticipantion of tapering. On the other hands, net GBP position perspective, last week net shorts dropped sharply in a follow-through from month end squaring. For technical aspect, RSI indicator printed 41 figures, suggesting bearish momentun ahead. For moving average side, 15 long SMA indicator remaining downside movement and 60 long SMA seems to change it upward movement to sideway.

In lights of aforementional, we still expect this pair will continue slightly move to sideway. If price fall ahead, the first immediately support level will eyes on 1.385 level in short term and 1.38 level follow. However, the imminet U.S. CPI data might give dollar rival currencies a whispaw. If price could go over the last highs spot which around 1.395, it will heading to over 1.4 level.

Resistance: 1.3896, 1.395, 1.4

Support: 1.38, 1.3745

EURUSD (4- Hour Chart)

EUR/USD pair is stucking 1.172 around as solid greenback demand persists while the shared currency gives up to tepid German data. Investors welcome U.S. news on infrastructure investment, eyes on U.S. inflation data. The pair seems to have gone into a consolidation phase and was last seen losing 0.14% in daily market at 1.17190 as of writing. From the technical perspective, RSI indicator still immerse in over sought territory, suggesting oevrly incling on bearish momentum. For moving average side, 15 long SMA indicator retaining downward slope and 60 long SMA completely head it way to negative side.

As our mention previously, we expected if price drop below 1.1755, market momentum would drag it to lower lows that eyes on 1.17. Therefore, we forecast 1.17 will be the last support level, especially for bid buyer. On contrast, if price could stand above 1.1755, price will choppy between 1.1755 and 1.18.

Resistance: 1.1755, 1.18, 1.185

Support: 1.17

XAUUSD (4- Hour Chart)

The Japan yen advanced to an almost one-month high of 11.058, trading nearby as the day comes to an end. The greenback retained its strength while New York session, the latter fueled by news indicating a fresh financial injection in the U.S., coming from the government. At the same time, 10 years U.S. treasuries yields has rallied to 1.35%, printed the record high in nearly two-week, that just gain 20% advanced from last bottom. For technical side, RSI indicator record 71.6 figures as of writing, suggesting over bought sentiment for yen market. For moving average perspective, both 15 and 60 long SMAs indicator are retaining downwind movement.

For the price action, the strong resistance has built by last couple high point which around neckline of bottom pattern at 110.66. Meanwhile, relative strong indicator aslo shows the overly sentiment that might forestall the bid side momentum or fuel the take profit action. On contrast, we expect 110.11 will be the first support level yet is short of price cluster, and 109.7 following

Resistance: 110.665

Support: 110.11, 109.7, 109.36

Economic Data

Dear Client,

To provide clients with a better trading experience.

There are no longer be a break in trading time from 23:15-23:30 (GMT+3) for the following indices.

This adjustment will come into effect on 16 August 2021.

The details as shown in the table below:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact [email protected].

Dear Client,

New contracts will automatically rolled-over as follows:

Please note:

• The rollover will be automatic, and any existing open positions will remain open.

• Positions that are open on the expiration date will be adjusted via a rollover charge or credit to reflect the price difference between the expiring and new contracts.

• To avoid CFD rollovers, clients can choose to close any open CFD positions prior to the expiration date.

• Clients should ensure that take profits and stop losses are adjusted before this rollover occurs.

If you have any questions, our team will be happy to answer your questions.Please mail to [email protected] or contact the service online.

Daily Market Analysis

Market Focus

The US markets were mixed on Monday as investors concerned about the potential stimulus withdrawal and a resurgence of the delta virus variant. The Dow Jones Industrial Average dropped 106.66 points. The S&P 500 was down 0.1% and the Nasdaq 100 climbed 0.16%. The market tone was flat as investors mulled comments from the Fed’s tapering asset purchases and the US jobs report was better than expectations.

Gold slumped as much as 4.4% during the early trading hours of Asian session, but gradually recover later Monday. The major sudden sell- off was a prototypical shake by last Friday’s better- than- expected jobs report, which led the market to fear that the Fed might be being one step closer to reducing asset purchases and to accelerating the pace of raising the interest rates.

The president of the Fed of Boston added more comments on monetary policy. The Fed’s Eric Rosengren mentioned, there are growing number of people, outside and inside of the Fed agreeing on the Fed who should start dialing back its extraordinary aid because the economy is coming back strongly. Addition to Rosengren’s comment, the central bank should announce in September that it will start reducing its $120 billion by this fall.

Main Pairs Movement:

The Aussie’s bears moving in on a critical support, declining 0.32% on Monday. The bearish move was mostly driven by a strong US dollar as the tapering talk continued to be brought up the table. The US 10- year Treasury yields climbed 1.32%, which underpinned the demand for the US dollar.

The EURUSD currency pair dropped to a multi- month low, closing at 1.1736, and the GBPUSD currency pair declined 0.13% on Monday. The pairs continued to be under pressure as the US dollar held onto gains across the broad.

Crude oil price edged lower as much as 4%, closing at 66.48 as the demand might be lower since Return- to- Office might possibly delay.

Technical Analysis:

GBPUSD (4-hour Chart)

Sterling is trading a touch lower on the day, down 0.15% at the time of writing after sliding from a high of 1.3894 to 1.384. The markets are in consolidation and are still digesting Friday’s jobs report, showed that jobs were added and it was the largest gains in NFP since August 2020. The dollar is better bid on the back of the data, taking on the bears at fresh daily highs. For technical aspect, RSI indicator printed 39 figures nearly market close, suggesting bearish momentun ahead. For moving average side, 15 long SMA indicator have death cross with 60 long SMA indicator while 60 long remaining slightly upside movement.

All in all, we believe this pair still lacking of a direction as it miring in a tiny horizontal channel which choppy nearly a week. If price fall ahead, the first immediately support level is 1.3843 as recently low on Jul 28 and successive fall then market will eye on 1.385 level in short term and 1.38 level follow. On upway, if price could go over the last highs spot which around 1.395, it will heading to over 1.4 level.

Resistance: 1.3896, 1.395, 1.4

Support: 1.3843, 1.38, 1.3745

EURUSD (4- Hour Chart)

The euro dollar turned to the downward and gained a fresh monthly low under 1.174 threshold that pressure as the greenback holds daily win across the board, losses 0.19% to 1.1736 as of writing. No key macroeconomic data was released on Monday. Market participants continue to digest last Friday’s NFP data. From the technical perspective, RSI indicator has drop to 27 figures as of writing, suggesting over sought sentiment for a short term. For moving average side, 15 long SMA indicator retaining downward slope and 60 long SMA has turned it way to negative side.

As our mention previously, we expected if price drop below 1.1755, market momentum would drag it to lower lows that eyes on 1.17. Therefore, we forecast 1.17 will be the last support level, especially for bid buyer. On contrast, if price could stand above 1.1755, price will choppy between 1.1755 and 1.18.

Resistance: 1.1755, 1.18, 1.185

Support: 1.17

XAUUSD (4- Hour Chart)

Gold is having a difficult time staging a convincing rebound following the steep drop witnessed in the early Asian session. With the latest data from the U.S. confirmng the improving labour market conditions, the pair started to edge lower and was last seen losing 1.91 on a daily basis at $1729. At the same time, the greenback rallied along with the U.S. treasury yield shooting into 1.3% territory. Concerns that the Fed is about to taper are likely to remain heightened in the short term, denting investor appetite for the precious metal for which we have witnessed an exodus at the start of the week. For technical side, RSI indicator still immerse in over sought territory, suggesting extremely sell side momentum fuel the market. For moving average perspective, both 15 and 60 long SMAs indicator are retaining downside movement.

For the market sentiment, we see indicator shows market is overly incling to selling moementum which fueled by market data. On the other hands, extremely dynamic movement impact the perspective of moving average. Therefore, we expect market will possibly rebound according to indicator suggestion. however, if momentum continue toward to downside, the first critical will on 1730. On up way, we expect 1751 will be strong resistance.

Resistance: 1751.5, 1792, 1830

Support: 1730, 1700, 1682

Economic Data

Daily Market Analysis

Market Focus

Stocks rose to record levels on the heels of a key labor market report, which reflected a stronger-than-expected rebound in employment last month and a marked drop in the jobless rate. S&P 500 extended its record-setting gains from a day earlier. Dow Jones added more than 100 points, or 0.4%, and also set a record high. The Nasdaq dipped as Treasury yields gained across the curve after the better-than-expected print on the labor market’s recovery.

A slow-going Senate debate over a broad $550 billion infrastructure package spilled into Sunday and could go on for days yet, with lawmakers unable to agree on which final changes to consider.

Amendments still on the table include proposals for new cryptocurrency rules and flexibility for states and localities that choose to use some unspent pandemic relief funds for roads and bridges.

Senator Bill Cassidy, a Louisiana Republican who helped negotiate the bipartisan proposal, said he expects the package of money for roads, water systems and broadband expansion will eventually pass, but suggested that may be two days away unless all 100 senators can agree to speed things up.

Majority Leader Chuck Schumer opened the Sunday session saying Democrats were ready to consider amendments to the legislation, which is a cornerstone of President Joe Biden’s agenda. “That will require the cooperation of our Republican colleagues,” he said. “In any case, we’ll keep proceeding until we get this bill done.”

Main Pairs Movement:

The dollar soared at the end of the week, closing green against most major rivals, right after an upbeat US Nonfarm Payroll report. The US added 943K new jobs in July, while the unemployment rate contracted to 5.4%, both largely beating the market’s expectations. The better-than-expected labor market results revived speculation that the Fed will have to tighten its monetary policy sooner than anticipated.

The eruo pair trades around 1.1760, and Cable settles at 1.3870. Commodity-linked currencies lost ground against their American peer. Loonie surged near 0.5% to the 1.25500 level, Ausssie plummeted to 0.7350, approaching its 2021 low, and NZD/USD hovers around 0.7000, struggling to defend the major support level.

Gold price collapsed, with the yellow metal losing roughly $35, closing the week at $1763 a troy ounce. Crude oil prices were also under selling pressure, with WTI ending the day at $68.00 a barrel, and Brent at $70.30. The yield on 10-year US Treasury note surged to 1.3000, amid the overall market optimism.

Technical Analysis:

GBPUSD (4-hour Chart)

Pound has declined under 1.39 after the U.S. reported an increase of 943k jobs, beating expectations and raising outlook for tighter monetary policy by Fed, set 1.38785 as of writing. At the same time, macroeconomic data trigger sell-off in U.S. treasuries. For technical aspect, RSI indicator pull up from slightly-bearish condition to set at 41 figures, suggesting slightly bearish movement ahead. For moving average side, 15 long SMA indicator slightly heading to negative territory and 60 long SMA indicator remaining upway traction.

All in all, we believe this pair still lacking of a direction as it miring in a tiny horizontal channel which choppy nearly a week. If price fall ahead, market will eye on 1.385 level in short term and 1.38 level follow. On upway, if price could go over the last highs spot which around 1.395, it will heading to over 1.4 level.

Resistance: 1.3896, 1.3985, 1.4

Support: 1.3665, 1.3745, 1.38, 1.385

EURUSD (4- Hour Chart)

The euro dollar pair dropped further and hit the nearly 4-month bottomed at 1.1754 then pull up side way close to the end of the day, holding on 1.176 with 0.61 losses as of writing. The slide is being driven by a rally of the greenback across the G-10 currencies as the outerperformance on labor market data. From the technical perspective, RSI indicator has drop to 27 figures as of writing, suggesting over sought sentiment for a short term. For moving average side, 15 long SMA indicator retaining downward slope and 60 long SMA remaining flat. Moreover, 15 and 60 long SMAs indicator has death cross in the daily market.

In the lights of indicator shows, euro dollar has drop badly in short term with market momentum. however, price action give euor dollar a solid support level at 1.1755 which it rebounded after once touched. At current stage, we expect 1.1755 will be the strong short term support in terms of momentum. If price successive down, then price will see at lower lows and next support will be 1.17.

Resistance: 1.1766, 1.18, 1.1848, 1.19

Support: 1.1755, 1.17

XAUUSD (4- Hour Chart)

Gold price came under strong bearish pressure in U.S. session after latest NFP data beat the expectation in July, price linger $1762 as of writing once it hit rock-bottom at 1759. The DXY index edged up 0.6%, having the best day in weeks and trading at 2-week highs. Meanwhile, stocks are holding in positive position across U.S. market despite NAS100 was pared by 10 years U.S. treasuries yield bullish traction, recording 5.3% gains to 1.29% level. For technical side, RSI indicator slightly declined to 21 figure as of writing, suggesting over sought sentiment in short term. For moving average perspective, both 15 and 60 long SMAs indicator are turning to south side, two indicator has death cross.

For the market sentiment, we see indicator shows market is overly incling to selling moementum which fueled by market data. On the other hands, extremely dynamic movement impact the perspective of moving average. Therefore, we expect market will possibly rebound according to indicator suggestion. however, if momentum continue toward to downside, the next critical support will eye on 1751.5.

Resistance: 1792, 1809, 1830.5

Support: 1759.2, 1751.5

Economic Data