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Profit-taking is expected to continue, gold and silver retreat to extend short-term
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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Platform]: Profit-taking to be continued, gold and silver retreat to extend short-term". Hope this helps you! The original content is as follows:

Last week, the gold market opened low at the beginning of the week at 4008.7, then the market fell back first. The weekly low reached the position of 3993.3, and then the market rose strongly. By Friday morning, the weekly high hit the position of 4380.4. After hitting the top for the second time in the market, profit-taking was taken. After the weekly line finally closed at 4247, the weekly line closed with a big positive line with a very long upper shadow line. After such a form ended, there was a need to continue profit-taking adjustments at the beginning of this week. The point was 33 below. The longs of 25 and 3322 and the longs of 3368-3370 last week were 3377 and 3385 longs, and the longs of 3563 were held at 3750 after reducing positions. The short positions of 4370 and 4375 last Friday were followed up at 4350 after reducing positions. Today, In the morning trading, it first pulled up and gave 4300 short position. Conservative 4304 short loss was 4309. The lower target is 4248 and 4232 and 4200-4185. If it falls below, the lower target is 4165, 4145 and 4132.

The silver market opened at 50.035 last week, then the market fell back to the weekly low of 49.68, and then the market rose strongly. After the weekly high hit the position of 54.462, the market took strong profits in the late trading. After falling back, the weekly line finally closed at 51.723, and then the weekly line closed in an inverted hammer-like shape with a very long upper shadow line. After such a shape ended, there was pressure to continue to fall back at the beginning of this week. At the point level, the bottom was 37.8 and 38.After the long positions of 8 and 44.6 are reduced, the stop loss is followed up and held at 47. Today, 52.5 is short and the stop loss is 52.8. The lower targets are 51.4, 51, 50.5, and 50.2-50.

Last week, the European and American markets opened at 1.16093 at the beginning of the week and then the market fell back strongly. The weekly low reached 1.15406 and then rose strongly. The weekly high hit 1.17288 and then the market fell back strongly in late trading. The weekly line finally closed. After reaching the position of 1.16529, the weekly line closed in a spindle shape with the upper shadow line longer than the lower lead line. After the www.xmh100.completion of this form, today's short stop loss of 1.16950 and the lower target of 1.17200 are 1.16500, 1.16200 and 1.16000.

The U.S. crude oil market opened higher last week at 59.29, then the market rose slightly to reach 60.2, and then the market fluctuated strongly and fell back. The weekly minimum reached 56.58, and then rose in late trading, and the weekly line finally closed at 56.58. After reaching the position of 57.65, the weekly line closed with a big negative line with the same length as the upper and lower shadow lines. After this form ended, this week it fell back to 57 and stopped the loss of 56.5. The target was 57.7 and 58.2-58.7 and 59.2 to leave the market and prepare to go short.

The Nasdaq opened low last week at 24529.79 and then the market consolidated in a wide range. The weekly low reached 24233.12 and then the market rose strongly. The weekly high hit 25009 and then the market fell back. The weekly final After closing at 24860.69, the weekly line closed with a Zhongyang line with a lower shadow line longer than the upper shadow line. After the www.xmh100.completion of this form, the stop loss is 24540 for more than 24600 today, and the target is 24950 and 25000, 25100 and 25200 pressure.
Fundamentals, the fundamental market last week increased its bets on an extraordinary interest rate cut! Powell's dovish tone is about to end the balance sheet reduction. Traders are increasing their bets that the Fed will cut interest rates by at least another 50 basis points before the end of the year. Recent options activity linked to the Overnight Financing Rate (SOFR) shows that market expectations for extraordinary interest rate cuts have increased. Although the U.S. government shutdown has delayed the release of key economic data, markets expect the data surge to provide support for interest rate cuts. In addition, rising trade tensions have also provided impetus for hedging interest rate cuts. Federal Reserve Chairman Jerome Powell delivers a speech. He once again emphasized that the downside risks to the job market have increased. Although layoffs and hiring levels are still low, the vitality of the labor market has weakened and the growth rate of non-agricultural employment has slowed. On the inflation front, core PCE inflation in August was 2.9%, a slight increase from the beginning of the year. Powell stressed that higher www.xmh100.commodity prices mainly reflected the impact of tariffs rather than broader inflationary pressures. Short-term inflation expectations have risen, but long-term inflation expectations indicators remain consistent with the Fed's 2% target. Powell also mentioned that the Fed will continue to adjust monetary policy based on the economic outlook and the balance of risks, rather than following a preset path. He pointed out that the balance sheet reduction may end in the www.xmh100.coming months to ensure sufficient liquidity in the financial system and control short-term interest rates and currency market fluctuations. Experience since 2020 shows that balance sheets can be used more flexibly in the future. The U.S. federal government shutdown has entered its third week and will be the second longest in history. On the 16th local time, the Senate's tenth vote on the temporary appropriation bill still failed to pass. The shutdown has led to the delay in the release of key economic data, such as the September CPI report and non-farm payrolls report, which has adversely affected the decision-making of institutions such as the Federal Reserve. Powell said that if the "shutdown" continues, relevant data will not be available and the situation will be more challenging. U.S. Treasury Secretary Bessent warned that the government shutdown is causing losses of about $15 billion to the U.S. economy every week. On October 16, the U.S. regional bank sector suffered a heavy setback. The KBW Regional Bank Index fell 3.6%, the largest single-day decline since May. The market value of the 74 largest banks in the United States evaporated by more than $100 billion in a single day. The turmoil stems from the latest revelations of loan fraud at at least two mid-sized banks, raising investor concerns about credit quality and asset transparency. Therefore, driven by risk aversion, spot gold has set new historical records for five consecutive days, reaching a maximum of nearly US$4,380 per ounce. Silver has simultaneously surged, once exceeding US$54 per ounce, setting another record high. The driving factors www.xmh100.come from rising global risk aversion, U.S. credit risk events and heightened expectations for interest rate cuts. On Friday, both spot gold and silver fell sharply, but this week they still rose nearly 6% and 3.5% respectively. The fundamentals this week mainly focus on China’s third quarter GDP annual rate at 10:00 on Monday, which is expected to be 4.8% this time, www.xmh100.compared with the previous value of 5.2%. In the evening, look at the monthly rate of the US Conference Board's leading indicators for September at 22:00. Watch on Tuesday for the Federal Reserve’s Payment Innovation Conference to discuss stablecoins, artificial intelligence and tokenization and the Asia-Pacific Economic Cooperation (APEC) Finance Ministers’ Meeting, which will take place until October 22. Watch for European Central Bank President Christine Lagarde's speech at 20:25 on Wednesday. Then look at the EIA crude oil inventories in the United States for the week to October 17 at 22:30, the EIA Cushing, Oklahoma crude oil inventories in the United States for the week to October 17, and the EIA Strategic Petroleum Reserve inventories in the United States for the week until October 17. On Thursday, focus on the annualized total number of existing home sales in the United States in September at 22:00. Friday is the key to this week, focusing on the US non-seasonally adjusted CPI annual rate in September at 20:30, which is expected to be 3.1% this time, and inflation has once again exceeded 3. Then look at the initial US October S&P Global Manufacturing PMI value and the US October S&P Global Services PMI initial value at 21:45, and then look at the 22:00 US October University of Michigan Consumer Confidence Index final value and the US October one-year inflation rate forecast.Ending value and total U.S. new home sales in September annualized.
In terms of operation, gold: the longs of 3325 and 3322 below, the longs of 3368-3370 last week, the longs of 3377 and 3385, and the longs of 3563. After reducing positions, the stop loss follow-up was held at 3750, and last Friday 437 The short positions of 0 and 4375 were reduced and the stop loss was followed up at 4350. In early trading today, it was first pulled up to give a short position of 4300 and a conservative 4304 short loss of 4309. The lower target is 4248, 4232 and 4200-4185. If it falls below, look below. 4165 and 4145 and 4132.
Silver: Long at 37.8 below, long at 38.8 and long at 44.6. After reducing the position, the stop loss is followed up and held at 47. Today, 52.5 is short and the stop loss is 52.8. The target below is 5 1.4 and 51 and 50.5 and 50.2-50.
Europe and the United States: Today 1.16950 short stop loss stop loss 1.17200 lower target is 1.16500 and 1.16200 and 1.16000.
U.S. crude oil: This week, it will first fall back to 57 and stop loss 56.5. The target is 57.7 and 58.2-58.7 and 59.2 to leave the market and prepare to go short.
Nasdaq: Today’s stop loss is 24540 for more than 24600, and the target is 24950 and 25000 and 25100 and 25200 pressure.
4370 and 4375 were empty last Friday




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