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Xu Xiyang Market Commentary – 25 March 2022

Vantage Published Updated Mon, March 28 12:23
Xu Xiyang Market Commentary – 25 March 2022

US dollar continued to rise overnight, the non-US dollar gap widened, and gold turned its head up again. High inflation data and geopolitical uncertainty are expected to drive gold prices moderately higher as the war in Ukraine, and the ensuing sanctions boosted commodity prices and pushed up inflation. Meanwhile, the European Union disagreed on a boycott of Russian crude oil, weighing on oil prices. The geopolitical situation will still affect the market trend in the short term, and we need to continue to pay close attention.

The US dollar has closed positive for many consecutive days. Today, it turned to the downside and stepped back on the support of the short-term moving average. The daily RSI began to fall. The market does not rule out that it will fall into shock again. Those who are stable can wait and see for the time being.

Gold rose above the critical pressure of 1950 (Gold TD: 398), stood on the 5-day and 10-day moving average, and the moving average began to turn around and turned into a golden fork. If the stability is maintained above 1950 (Gold TD: 398), the short-term can continue to choose the opportunity to go long. Above, first pay attention to the 1970-80 (gold TD: 403-405) pressure.

Crude oil closed in the negative at a high level, still supported by the 5-day moving average. The short-term moving average gold fork shows no apparent signs of shrinking. The short-term trend is still mainly bearish, and the market is expected to rechallenge the 118 mark in the future.

Europe and the United States once again closed out the Doji, holding the first-line support of 1.0960. The price has always hovered around the 5-day and 10-day moving average. The direction is still unclear, so we can continue to wait and see.

The pound and the United States closed in the negative for two consecutive days and turned their heads upward again today. The top of 1.31-1.3120 is still mainly bullish, and the top continues to pay attention to the pressure of the 1.33 mark. The overall trend is still upward for 4 hours.

Australia and the United States have continued to rise, the short-term moving average has further increased, and the deviation rate has increased. The short-term trend is extremely strong. The strength of the bulls still shows no apparent signs of exhaustion. Long orders can continue to be held, as much as above 0.7540.

The United States and Japan closed Changyang and stood on the daily Bollinger track but suffered a sharp drop this morning. It is not ruled out that the adjustment will continue in the short term. Our long order yesterday has reached the second target of 122, and the long order can be lightened and settled. The following is the first concern 121.5, 121-121.2 supports.

Silver has risen for two consecutive days, breaking the first-line pressure of 25.4, and the short-term moving average has begun to turn upward. There are signs of turning in the short-term, and many orders can continue to be held. Pay attention to the previous high pressure above.

A50 continued to close the Doji, and the 5-day and 10-day moving average flattened, but the short-term trend still tends to fluctuate. If it fails to break through the 14,000 mark, the market will still be mainly bearish in the future, and short-selling can continue near the mark.

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