Gold fell technical blocked

 (Will Xin point of gold) gold technical blocked
2007  7  down 12  Investment Research Center Will Xin Yang Yi-jun

U.S. dollars to 80.66 points on Wednesday, opened at the highest point on the test 80.86, the lowest Exploration of 80.62 points to close at 80.84 points over the previous trading day up 19 points, or 0.24%, showing a decline at K line of small Yangxian resistance.
Wednesday and there is no important economic data releases, but the market is becoming more popular empty. New York trading Wednesday, the dollar fell against the euro for a second day historic lows, the market is still the problem of the subprime mortgage market may be what impact the U.S. economy as a whole expressed concern. euro against the dollar in overnight trading record high of $ 1.3787 hit. Earlier, the ECB (European Central Bank) Executive Board (Executive Board) member Juergen Stark did not care too much strength in the euro concerns that the eurozone economy is improving. Euro Group Mr Juncker said the euro's strength will not hurt the European economy. This is 2005 euro hit 1.3660 against the dollar, the European Central Bank President Jean-Claude Trichet will carry out market intervention angry very different position. The market expected the dollar will continue to maintain in the coming weeks weakening, as Europe, Australia, Canada and other countries and regions may continue to increase interest rates, and U.S. interest rates will continue to assess the state of the economy as the Fed held steady.
Federal Reserve Board (FED) on Wednesday Warsh that bad subprime mortgage debt market, the financial problems arising from the financial markets did not result in systemic risk. Warsh added, but the FED has the subprime sector is expected to lead to more loss of the possibility of oscillation. FED position, I think the general view is that we may not yet touched bottom, the loss is inevitable. In the next few months, the subprime mortgage problem may be more apparent adverse effects. In view of the U.S. subprime mortgage market deterioration of uncertainty, and may trigger the credit crisis and led investors away from the risks of trading, the dollar short-term outlook is still quite negative. recommended investors to buy yen and sell dollars, currency strategist at Morgan Stanley, said, Swiss franc and the yen may be associated with outstanding performance such as a funding currency. .
regardless of whether the market for U.S. subprime loans, there is amplification of the negative, the dollar trend should be no doubt that air situation. In my view, the U.S. subprime loan problems in recent months there has been concern only in current dollar bearish market trend atmosphere is magnified even more obvious. the market is such that when bad flying, it may have missed the best for air time. and we found the main market, capital flows may decline against the dollar early on response to the advance, after the June 20 New York Futures Exchange (NYBT) U.S. dollar forex trading, we will celebrate the decline of the dollar reached the conclusion, the data at a time when news of it most of the dollar. So follow the trend the general retail market tend to become vulnerable.
dollars from a technical perspective is currently still showing a negative trend, but fell sharply after the short term has embodied a certain sign of oversold, so the operation should continue to hold short homeopathy better choice. Overall, the dollar increasingly positive air gold market, but gold is still not completely get rid of the tie beam technical.
gold
international spot price of gold on Wednesday, opened to $ 663, the highest on the test $ 665.9, the lowest test a low $ 659.7, to close at $ 660.3 from the previous trading day down $ 2.55, or 0.38%, at K show a continuous line of small Yinxian recovery softening.
reflect the overall gold market on Wednesday was Blockage of the technical situation. undertake strong overnight on Tuesday, Wednesday, gold has maintained Asia's dynamic disk's strong opening in Europe early the highest price of gold hit $ 665.9. enter the United States after trading hours, although the U.S. dollar is still unsatisfactory, basic metals and crude oil price dynamics holding strong, but gold is having a narrow range of oscillation softening trend. and 23:00 hours eased further test a low near $ 660, followed by consolidation to remain weak close overnight.
in the basic metals and Crude oil prices have remained relatively strong case, on Wednesday showed a corresponding recovery in the price of gold weak. We think this in large part by the technical guidelines. diagram shows, even though the price of gold has been nearly 2 months out of the downtrend line H line of the back pressure, but short-term price of gold is even more obvious by the quarterly average and half average resonance techniques in the vicinity of $ 663.5 back pressure. and from the price of gold peaked in April to $ 639.9 $ 693.6 Adjustment since its band rebound two points located in the vicinity of $ 666 also constitutes a further recovery in the price of gold back pressure.
However, we believe that market conditions should continue to benefit associated with the gold market. crude oil, the U.S. Energy Information Administration (EIA) said that as of July 6 When the weekly crude oil inventories fell 140 million barrels to 3.526 million barrels, down for the first time in six weeks, the market was estimated at an increase of 10 million barrels. But oil prices did not further upstream, but slightly softened. We think that this will not change shortage of oil because the demand for reserves and upstream of the overall pattern of organization of oil exporting countries (OPEC) said on Wednesday the main Xihamili, the group is currently no reason to increase production of crude oil, but is ready to increase output when necessary. this sentence semantic focus of the first few words, indicating the short-term crude oil supply shortage situation will continue. Wednesday's overall performance is acceptable base metals, but the trend of some differentiation, Copper & does not seem to shake off the short finishing straight upward after the pattern of strong, aluminum is done ethics adjusted further rose, picking up clear. Of course, we believe that the basic pattern of the metal will not change the overall upward, but the short-term, including some varieties, including Copper & may still be repeated, if the gold market still maintains its high positive correlation Alliance, does not rule out technical in the near future there again under pressure.
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