Market Observation: 

US Dollar:

There was significant market volatility yesterday, Monday. The US Dollar Index directly broke below the weekly support level. Recently, European data has been slightly better or in line with expectations, while US data has been in line with or slightly worse than expectations. This has resulted in a significant adjustment in the US dollar and a rebound in European currencies. 

This Thursday, the European Central Bank will hold a monetary policy meeting, and Friday will be the Non-Farm Payrolls report, so market volatility is expected to continue to intensify.

Currently, if these two major fundamental events this week do not bring the US dollar back above the weekly support level, the bullish trend of the dollar will likely be reversed. 


Additionally, gold's recent performance has not been strong. Despite the sharp drop in the dollar yesterday, gold did not break through the upper resistance at 2360 and is not as strong as European currencies.

In my personal opinion, gold needs a technical breakthrough for the bulls to gain more strength. The market always fluctuates, with twists and turns, so emotions, psychological state, and fund management are quite important in trading. These perceptions vary from person to person. Close communication with clients and understanding their needs might lead to greater success in the market.


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