General analysis of DXY Index

 📝 General analysis of DXY index (measuring USD strength) on 11/03/2021 only in PAID SERVICES:

 After 2 weeks of strong break-through of DXY as analyzed by definition, in my opinion, this week, DXY will likely adjust a little to be able to move to the next thresholds.  As I mentioned last time that the condition for DXY to move forward is that it will have to break through the MA20 on the weekly timeframe (W1) so after breaking this MA it has turned up sharply and is now in  Retest momentum is needed to bounce further.

Moving to the D1 daily chart, we can see that the index's bearish force is strong and in my opinion, DXY will continue to correct this week, the next level DXY is back.  is around 91 points of the index.  At this price zone, in my opinion, DXY is likely to create a bottom-up to conquer the next higher levels after nearly 1 year of continuous decline.

 - Because of the expectation that DXY will reduce, we will prioritize buying XXX / USD and selling USD / XXX including gold (XAUUSD).  But everyone remembers this is the correction of the DXY (USD), not the long-term trend, so after the short-term rally of XXX / USD including gold (XAUUSD), let's find a selling point.  !

 (Currently, the DXY index price is analyzed at 91.78 index points, this indicator is used to analyze USD-related currency pairs NOT TRADE)!

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Monthly Overview on Oil by Money Life Research

 Monthly change: XBRUSD +17.15%

Oil prices rose sharply in February. Saudi Arabia's deep output cuts, an improving demand outlook, and cold front, which shut wells and refineries in Texas, contributed to the price increase.

The growing popularity of commodities as a hedge against resurgent inflation have pushed oil higher this year. There have been a lot of bullish calls in recent weeks predicting that the rally will continue. The maintenance in the North Sea fields is set to reduce the oil supply.

The upcoming OPEC+ meeting is crucial. The market could remain positive in the face of a modest increase in OPEC+ production. If there is a large increase, then it could dampen the outlook in the short term.

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Check out the news of the last day

 + Check out the news of the past 24 hours:

 1️⃣ Many factors drive the strength of the dollar

 - USD continued to hold its strength, rising to the highest level in 3 and a half months, benefiting from the increase in US bond yields and the decrease in risk demand in the stock market.

 - “The increase in US bond yields increased volatility in the stock market, and supported USD.  As for the Fed, it still maintains a soft attitude while pushing back expectations of actions against higher yields ”.  UBS strategists said in a note.

 - Analyst Bofa - Athanasios Vamvakidis, said that strong fiscal stimulus, economic reopening process is accelerating and greater consumer spending are factors driving USD.

 - The US Senate approved a $ 1.9 trillion bailout plan, after a day when the NFP report showed strong labor market growth, which pushed the USD to its highest level since  November 2020. The dollar index stands at 92,186 against a basket of six major currencies, up 0.3%.

 2️⃣ Investment sentiment in the common currency area increased sharply

 - The euro zone investment sentiment index jumped to a more than a year high in March, driven by an improved look at the current situation, a survey found earlier in the week.  .

 - Global immunization campaigns are being achieved, accelerating, raising expectations about the ability of communities to be protected against pandemics.  This allows economies to reopen faster and investors are betting on these.

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Comment on Gold on March 8

 📕 Comment on Gold on March 8, 2021:

 ‼ ️ At the end of last trading week, world gold price had a week of decreasing from 1759 to 1686 (73 $).  This is also the 3rd consecutive week World Gold has a decline.  With quite strong downside pressure on weekly and monthly timeframes, we have clearly seen the downward pressure of the gold precious metal in the coming time, but in the short term in my opinion.  Last week, gold precious metal is still ending at strong support zone around 1680-1685.  And in my opinion, it is likely that in the first sessions of the week, this precious metal will have an upturn momentum after a week of declines.

 - Moving to daily chart timeframe we can see that last Friday the world gold price closed with a bullish candle after a series of declines in Gold.  As stated at the end of the week, in order for this precious metal to increase further, today, World Gold will have to end the day with a bullish candle above 1713-1715 to be able to increase in the days.  next.

 - Returning to the Asian session today, we will prioritize buying the gold precious metal around the 1697-1700 zone and the safe profit-taking target will be around 1715.

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Any light at the end of the tunnel for US employment?

Any light at the end of the tunnel for US employment?

9 million fewer Americans are currently employed compared to February of last year.

Will the latest Non-Farmers Payroll (NFP) release provide the US’s labor market and economy with a more optimistic outlook?

Check out the NFP announcement today at 1:30 pm GMT & trade, trade, trade with the #BestSignals provided by the market leader in the #ProfessionalSignalServices of The MoneyLife Research.

Register on our website and get the best signals to make the best returns on your investment.

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Check out the news of the past 24 hours

 🌈🌈Good morning!  Have a nice day!

 + Check out the news of the past 24 hours:

 1️⃣ Fed Chairman Powell reiterated his commitment to maintain easing policies, stressing that job creation is a top priority.

 Fed Chairman Powell said on Thursday that with the progress of vaccinations and the government's financial support, “we have every reason to believe that further progress will be made in achieving the entry.  Fed spending on full employment and inflation is consistently at 2%.  However, even if this situation is reached, it will take a long time.  I want to be clear about this.  Even if the situation improves, I hope we will be patient.  "

 - It can take a long time to restore production and fill the lost jobs and it may be difficult to reach maximum jobs this year.

 - The Fed has no plans to change the QE, continue to patiently wait for inflation to rise according to the expected target.

 - The Fed is not ready to change the current rate hike plan, it may take more time to consider raising interest rates.

 - The US bond yields continue to increase strongly and continue to be the key drive to support the expectation that the USD will rebound when the economy is more prosperous.

 - However, the US stock market reversed and declined due to concerns that FED would consider intervening in policy when bond yields are increasing.

 2️⃣ Notable economic facts and data today

 - At tonight, the February season-adjusted US non-farm employment data will be released, expected to increase by 182,000, 49,000 higher than previous values.  Be wary of below-expected non-farm risks.  The market expects that the US unemployment rate in February will hit a record 6.3%, equal to the previous value.

 On Saturday morning, the 2021 FOMC voting committee, Bostic will deliver a speech on "macroeconomic policy" at an online event.  You may have noticed his statement about the soaring US bond yields.

 - On Friday, Bank of Japan Governor Kuroda Haruhiko will make a speech after Kuroda Haruhiko said that he has no intention of raising Japan's 10-year government bond yield target from the 0.

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Technical Overview on Gold

 USD: The FOMC's Brainard should give risk assets some breathing space

FX markets have stabilized overnight, assisted in part by comments from Lael Brainard of the Federal Open Market Committee, who reported that she has been paying close attention to recent moves in US Treasury yields. Since UST uncertainty is currently the biggest risk to risk assets and cyclical FX, these remarks should give higher beta FX some breathing space. In the United States, the priority is on February ISM Facilities. We expect a minor correction from the January reading, which should help risk assets stay stable.

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