Report By CSFX Experts – 06 September 2022

Technical Analysis

TOP MARKET TECHNICAL ANALYSIS NEWS TODAY:

In the Forex market, GBPUSD up 0.45% at 1.1568. The USDJPY up 0.35% at 141.054. The USDCHF flat at 0.9795. EURUSD up 0.29% at 0.9956, EUR/GBP down 0.14% at 0.8604. The USD/CNY up 0.11% at 6.9413 at the time of writing.

In the Commodity market U.S. Gold futures up 0.48% at $1,717.23. Elsewhere, Silver futures up 1.05% at $18.308 per ounce, Platinum up 0.41% at $848.00 per ounce, and Palladium up 1.30% at $2058.50.

Crude Oil down on Tuesday; Brent Crude Oil down 0.23% at $94.94 per barrel while U.S. West Texas Intermediate (CLc1) down 0.32% at $88.37.

In the Cryptocurrency Markets, Bitcoin at 19605.00 down 0.86%, Ethereum up 2.82% at 1662.90, Litecoin at 60.17 down 0.33%, at the time of writing.

ECONOMIC NEWS:

US: New orders for U.S.-manufactured goods unexpectedly fell in July, weighed down by a plunge in defense aircraft bookings, but the overall manufacturing industry remains resilient.

The Commerce Department said on Friday that factory orders dropped 1.0% in July after increasing 1.8% in June.

Economists polled by Reuters had forecast factory orders would increase 0.2%. Orders increased 13.4% on a year-on-year basis in July.

The Institute for Supply Management said on Thursday manufacturing grew steadily in August as employment and new orders rebounded. July’s factory orders were mixed. Orders for computers and electronic products increased 0.8%. Orders for electrical equipment, appliances and components fell 1.2%.

GBPUSD TECHNICAL ANALYSIS

Technical Analysis

Technical Analysis

TRADE SUGGESTION- SELL AT 1.1591, TAKE PROFIT AT 1.1493 AND STOP LOSS AT 1.1685

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