Trident International: Gold finished lower fear of further decline

Updated: October 19, 2015  Views: 31

Spot gold finished lower on Thursday in an accident than-expected US data released on the premise of the spot price of gold continued to decline on Friday, the weekly close at 1176 line, the dollar rebounded from a three-month high gold prices pulled back from last week's gold strong pattern obtained since short rest, but will be delayed due to the US rate hike expectations, driven by stronger gold price will continue the pattern in a short time. Traders said buying real weakness in the gold market since the stock rose on Thursday, so selling price of gold increased.

Data on Friday (October 16) released showed US September factory output consecutive monthly decline, while the October consumer confidence index rose more than expected University of Michigan consumer confidence suggests that consumers ignore recent financial market volatility and re-employment to look back up. reflects the September industrial output showed 'continued weakness' shrinking manufacturing sector topped seems strong dollar, weak global growth and commodity slump and other factors will not soon headwind subsided.

Relatively light news Monday, China's third-quarter GDP data released Asian market intraday 6.9% more than expected, but the breakdown of the data is less than expected. Bureau of Statistics said third quarter economic growth, although slightly down, but a steady intake , stable trend has not changed for the better, the economy is still in a reasonable range, to accelerate the pace of structural adjustment, new growth momentum nurture domestic and international environment is still complicated and grim, the economy is still downward pressure on China's third quarter economic growth rate dropped since the financial crisis its lowest level in six years for the first time fell below the '7', but slightly higher than analysts expected.

Today's focus:

① 10:00 China's third-quarter annual GDP growth, total annual GDP in the third quarter, the third quarter GDP rate

② 22:00 US October NAHB housing market index

Do a single proposal:

USDJPY:

After Thursday out of V-shaped trend reversal on the US dollar against the yen on Friday homeopathic rise late fall now back shock pattern, inter-district overall volatility of 118.80-119.70, large range of 118.10-120. Days focusing 119.60 line pressure and below the 119 line support efforts to buy low sell high operating .119.60 short, stop 30 points, target 119.

Spot gold:

Spot gold last week after a strong outbreak peaked on Thursday and Friday, the trend is in line with previous judgments. 1182 line on Friday to continue to hold an empty one, not yet reached the target position. Intraday short position continues to rebound, supporting the bottom line concerns 1165, this location China is the last Wednesday before the release of CPI and PPI data outbreak weak position of gold.

Intraday trading strategy:

1, 1182 on Friday, short line, with a stop $ 4, continue to hold the target to see 1165.

2, 1176 intraday rebound short line, stop 5 dollars 1166 target.


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