Crude Oil Prices Thrill Like a Roller Coaster
The crude oil market is truly a heart-pounding experience, with prices swinging up and down like a roller coaster. Recently, the Middle East has been in turmoil, causing oil prices to fluctuate wildly. The tense relationship between Iran and Israel, coupled with strikes at U.S. ports, have added fuel to the fire in the crude oil market.
From a technical perspective, the crude oil price trend on Thursday was like climbing stairs, step by step, reaching a low of $70.5 and a high of $74, with a large bullish candlestick on the daily chart, closing at $73.6. It appears that there is still momentum for oil prices to rise, but a short-term breather and pullback may be necessary. Support levels at $74 and $73 need to be closely monitored.
Gold Market Holds Its Breath for Non-Farm Data
On the gold front, prices also played a "heart-racing" game on Thursday, fluctuating between $2640 and $2665, ending the day with a doji candlestick, which is enigmatic. This is akin to the ancient saying, "True gold fears no fire," as gold, being a safe-haven asset, always manages to hold its ground during market volatility.
GBP/JPY Trend as Changeable as British Weather
The trend of the GBP/JPY currency pair is as changeable as the British weather, shifting on a dime. On Thursday, GBP/JPY first rose and then fell, ending the day with a bearish candlestick, indicating that the market is quite sensitive to UK economic data and policy direction. This is reminiscent of the ancient saying, "Opportunity knocks but once," as traders must seize the moment and act decisively when the time is right.
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Technically, the GBP/JPY exchange rate operates within a large range, with both the four-hour and hourly charts showing a consolidating trend, awaiting a breakout signal. For intraday operations, one must first consider the large range of 195 to 190 and look for opportunities to enter the market.Crude Oil Technical Pattern and Indicator Analysis
The fluctuations in the crude oil market always make people's hearts race, and Thursday's price movement was as thrilling as a roller coaster ride. Indeed, a large bullish candlestick appeared on the daily chart, indicating that there is still upward momentum in oil prices. However, the high volatility on the four-hour and hourly charts also warns us that a short-term correction may be necessary. The support levels at $74 and $73 need to be watched closely.
Gold Price Trend and Key Support/Resistance Levels
The gold market's performance on Thursday could be described as "still as a virgin, swift as a hare," with a range-bound movement and a doji candlestick on the daily chart, reflecting the market's cautious stance before the release of non-farm payroll data. Technically, the gold price is in an upward channel, with $2685 being a key resistance level. The four-hour and hourly charts suggest that there may be continued volatility in the short term. Patience is required, and when the opportunity arises, decisive action must be taken.
GBP/JPY Technical Chart Analysis
The movement of the GBP/JPY currency pair is as unpredictable as the British weather, changing on a dime. Thursday's rise followed by a fall, with a bearish close on the daily chart, demonstrates the market's complexity. Technically, the GBP/JPY exchange rate is operating within a large range, awaiting a breakout signal. For intraday operations, one should first observe the large range between 195 and 190 to find opportunities to enter the market.
Crude Oil Trading Strategy and Risk Management
The volatility in the crude oil market always excites and unnerves traders. Indeed, Thursday's price movement was like a roller coaster ride, causing palpitations. Our strategy is:Buy within the range of $72.3-72.5, set a stop loss at $0.4, and aim for $73.5-74. This strategy is based on the support of oil prices at the upper rail of the Bollinger Bands, as well as the market's reaction to geopolitical tensions.
At the same time, we must also pay attention to the impact of news, such as the dynamics of the conflict between Iran and Israel, as well as the follow-up developments of the U.S. port strike. These events could all impact oil prices in the short term.
Gold Trading Strategy and Non-Farm Data Response
The gold market's movement on Thursday can be described as "still as a virgin, swift as a hare," with a range-bound fluctuation and a doji candlestick at the end of the day, indicating the market's cautious attitude before the release of the non-farm data. Our strategy is:
Buy within the range of $2642-2645, set a stop loss at $4, and aim for $2655-2660. This strategy is based on the judgment that gold prices are in an upward channel, as well as the expectation of a positive impact from the non-farm data.
At the same time, we must closely monitor the release of the non-farm data. If the data is better than expected, it may suppress gold prices in the short term; if the data is worse than expected, it may drive gold prices up.
GBP/JPY Trading Strategy and Position Control
The movement of the GBP/JPY currency pair will be more influenced by UK economic data and policy expectations. The rise and fall of GBP/JPY on Thursday, with a bearish candlestick at the end of the day, shows the complexity of the market. Our strategy is:Short around 195 USD, set a stop loss at 0.4 USD, and aim for 194.2-193.5 USD. This strategy is based on the pound-yen exchange rate operating within a large range on the daily chart, as well as the oscillatory trends on the four-hour and hourly lines.
Long around 190.1 USD, set a stop loss at 0.4 USD, and aim for 191-191.5 USD. This strategy is based on the judgment that there is strong support for the pound-yen exchange rate near 190 USD on the downside.
The Impact of Non-Farm Payrolls Data on the Market
Non-farm payrolls data, as an important indicator of the health of the U.S. economy, carries significant influence. It is akin to the ancient saying, "pull one hair and move the whole body"; every fluctuation in non-farm payrolls data can create ripples in the financial markets. This week, the trends of gold, crude oil, and the pound-yen currency pair have undoubtedly been affected by expectations of non-farm payrolls data.
For gold, the release of non-farm payrolls data often serves as a watershed for short-term price movements. Data that exceeds expectations may strengthen expectations for the Federal Reserve to raise interest rates, thereby suppressing gold prices; conversely, if the data falls short of expectations, it could become a catalyst for gold price increases. Therefore, traders need to be extra cautious before and after the release of non-farm payrolls data, as the proverb goes, "careful sailing ensures a journey of a thousand miles."
The crude oil market is equally sensitive to reactions to non-farm payrolls data. Strong non-farm payrolls data may boost the U.S. dollar, thereby exerting pressure on crude oil priced in dollars; while weak data may weaken the dollar, providing support for oil prices. Additionally, non-farm payrolls data may also affect market expectations for the U.S. economic outlook, thereby influencing expectations for crude oil demand.
The pound-yen currency pair is more influenced by British economic data and policy expectations, but the release of non-farm payrolls data may also indirectly affect the pound-yen trend. On one hand, non-farm payrolls data will affect the U.S. dollar's trend, thereby affecting the pound-yen; on the other hand, the impact of non-farm payrolls data on market risk sentiment should not be overlooked.