1. Forex Market Insight    

EUR/USD  

The euro fell three straight against the dollar last week. Italian Prime Minister Mario Draghi offered to resign, and the exchange rate once fell to a new low of 0.9951 since early December 2002, but then rejected by the country’s president. 

Europe is grappling with new problems and eurozone policymakers need to make painful and economically costly choices. 

Technical Analysis：

(EUR/USD 1-hour chart)  

We focus on the 1.0116-line today. If EUR runs steadily below the 1.0116-line, then pay attention to the support strength of the two positions of 0.9999 and 0.9938. If the strength of EUR breaks above the 1.0116-line, then pay attention to the suppression strength of the two positions of 1.0184 and 1.0357.   

GBP Intraday Trend Analysis   

Fundamental Analysis：

The pound lost three straight against the dollar last week, hitting a new low of 1.1759 since late March 2020. 

Markets are also concerned about the outlook for the UK economy, fearing that growth is stagnant and that inflation may eventually continue to be higher than elsewhere. 

Technical Analysis： 

(GBP/USD 1-hour chart) 

Execution Insight:   

GBP is mainly focused on the 1.1916-line today. If GBP runs below the 1.1916-line, it will pay attention to the suppression strength of the two positions of 1.1853 and 1.1820. If GBP runs above the 1.1916-line, then pay attention to the suppression strength of the two positions of 1.1970 and 1.2005. 

2. Precious Metals Market Insight   

Gold   

Fundamental Analysis:   

Spot gold fell more than 2% last week, with gold prices falling for the fifth consecutive week. 

The intraday refreshed a new low to $1,697.53 since the week of 13^th Aug, 2021.  

The year-on-year increase in U.S. inflation hit a more than 40-year high of 9.1%, and expectations of faster interest rate hikes by the Federal Reserve boosted the U.S. dollar significantly, depressing the overall movement of gold prices last week. 

Technical Analysis：   

(Gold 1-hour chart)   

Trading Strategies:   

Gold pays attention to the 1701-line today. If the gold price runs steadily below the 1701-line, then it will pay attention to the support strength of the 1690 and 1680 positions. If the gold price breaks above the 1701-line, then pay attention to the suppression strength of the two positions of the 1722 and 1742.                                            

3. Commodities Market Insight   

WTI Crude Oil   

Fundamental Analysis:

Oil prices maintained a downward swing last week. 

In the United States, the release of June CPI data unexpectedly exceeded expectations by a large margin, making the market expectations of a sharp increase in interest rates by the Federal Reserve rise, which is not conducive to oil prices. 

In addition, US President Biden opened a trip to the Middle East last week, hoping to urge Middle Eastern countries to increase production, which also put heavy pressure on oil prices. 

However, three major crude oil reports released last week concluded that supply remains limited in the current market and market institutions are bullish on the long-term trend of crude oil. 

Technical Analysis：   

(Crude oil 1-hour chart)

Trading Strategies:   

Oil prices focus on the 95.05-line today. If the oil price runs above the 95.05-line, then focus on the suppression strength of the two positions of 97.33 and 99.50. If the oil price runs below the 95.05-line, then pay attention to the support strength of the two positions of 93.57 and 91.54.  

Disclaimer    

While every effort has been made to ensure the accuracy of the information in this document, DOO Prime does not warrant or guarantee the accuracy, completeness or reliability of this information. DOO Prime does not accept responsibility for any losses or damages arising directly or indirectly, from the use of this document. The material contained in this document is provided solely for general information and educational purposes and is not and should not be construed as, an offer to buy or sell, or as a solicitation of an offer to buy or sell, securities, futures, options, bonds or any other relevant financial instruments or investments. Nothing in this document should be taken as making any recommendations or providing any investment or other advice with respect to the purchase, sale or other disposition of financial instruments, any related products or any other products, securities or investments. Trading involves risk and you are advised to exercise caution in relation to the report. Before making any investment decision, prospective investors should seek advice from their own financial advisers, take into account their individual financial needs and circumstances and carefully consider the risks associated with such investment decision.