Stock Market


On Thursday, the US dollar index initially saw a slight decline but maintained proximity to its six-month peak at 105.74 during the session. However, it later relinquished these gains and concluded with a marginal 0.06% dip, closing at 105.38. In the realm of US Treasury yields, the 2-year US Treasury bond yield initially climbed, but subsequently retreated, commencing at 5.2% and eventually settling at 5.144% due to unexpected developments. The 10-year US Treasury bond yield exhibited a surge, briefly reaching 4.5% before ultimately closing at 4.494%.

Gold prices faced suppression influenced by US bond yields. The price of spot gold initially dipped below $1,920, hitting an intraday low of $1,913.97 before the US market opened. Ultimately, it managed to approach the $1,920 mark but still concluded with a 0.53% decline, settling at $1,920.08 per ounce. This marked the third consecutive day of negative closures. Silver prices displayed a V-shaped pattern, plummeting to an intraday low of $22.81 prior to the US market’s opening, then staging a recovery to recoup all losses and closing with a 0.7% increase at $23.4 per ounce.

Crude oil prices exhibited fluctuating gains. WTI crude oil briefly dipped to an intraday low of $88.34 during the European trading session but later rebounded above $90. It ultimately closed with a 0.38% gain at $89.53 per barrel. Brent crude oil, on the other hand, concluded with a marginal 0.04% increase at $93.19 per barrel.

The three major US stock indices encountered significant downward pressure, opening and closing at lower levels. The Dow index experienced a 1.08% decline, the Nasdaq closed with a 1.82% drop, and the S&P 500 recorded a 1.64% decrease, marking its most substantial one-day decline in the past six months. Notably, Amazon saw a decline of over 4%, while Nvidia and Tesla both experienced drops of over 2%.

In contrast, European stocks generally ended the day with gains. Germany’s DAX30 index closed down by 1.33%, the UK’s FTSE 100 index recorded a 0.69% decline, and Europe’s Stoxx 50 index concluded with a 1.48% decrease.

Trading Strategy:

Buy XAUUSD within the price range of 1908-1910

Set a Stop Loss at 1906

Target Take Profit 1 at 1920

Consider Take Profit 2 at 1935

Also, Take Profit 3 at 1940

Sell XAUUSD within the price range of 1927-1930

Implement a Stop Loss at 1933

Aim for Take Profit 1 at 1920

Consider Take Profit 2 at 1915

Additionally, Take Profit 3 at 1910

Please ensure that you adhere to capital management principles by risking only 1% of your account and avoiding risking more than 5% of your account within the nearest 10 price levels. In all trading situations, it is essential to set stop-loss orders (SL) and carefully monitor trades based on your current capital.

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