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Spreads
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Spreads
Spreads
Last week, the gold market saw limited price fluctuations as it remained in a consolidating phase, awaiting the release of inflation data this week. Gold ended the week at a closing price of 1865.
On the Weekly timeframe, we can see that the Stochastic Indicator is moving lower, exiting the overbought level. Gold price is still moving above the 20, 50, and 200-period moving averages.
Our Weekly resistance levels are at $1,896 and $1,929, with the support levels at $1,859 and $1,807.
On the Daily timeframe, the Stochastic Indicator is moving inside the oversold level. Price is moving below the 20-period moving average but still above the 50 and 200-period moving averages.
Our Daily resistance levels are at $1,890 and $1,921, with the support levels at $1,855 and $1,824.
Conclusion: This week, the US Consumer Price Index will be released, providing insight into the current inflation situation in the country. Based on this upcoming data, we anticipate that the price of gold may experience a slight decline, reaching the support level of $1,855.
Last week, EURUSD moved lower as expected and broke our support level at 1.0774. EURUSD closed the week lower at 1.0676.
On our Weekly timeframe, the Stochastic Indicator is exiting the overbought level. The price continues to trade below the 200-period moving average and above the 20 and 50-period moving averages.
Our Weekly resistance levels are at 1.0789 and 1.1037, with the support levels at 1.0554 and 1.0367.
On our Daily timeframe, we can see that our Stochastic Indicator is inside the oversold level. Price is moving below the 20-period moving average while still just above the 50 and 200-period moving averages.
Our Daily resistance levels are at 1.0731 and 1.0845, while the support levels are at 1.0645 and 1.0499.
Conclusion: This week, the release of US inflation data is expected to impact the EURUSD currency pair. Based on market analysis, we anticipate that the EUR/USD may reach its next support level at 1.0554 before potentially rebounding to higher levels.
Last week, DJ30 lacked clear direction as it remained in a range-bound pattern, with traders waiting for the US inflation data release. The DJ30 ended the week at a closing level of 33870.
On the Weekly timeframe, we can see that the Stochastic Indicator is moving higher in the middle. Price is moving above the 20, 50 and 200-period moving averages.
Our Weekly resistance levels are at 34331 and 34881, with the support levels at 33416 and 32672.
On our Daily timeframe, we can see that our stochastic indicator is moving lower in the middle. Price is moving just above the 20, 50 and 200-period moving averages.
Our Daily resistance levels are now at 34391 and 34775, while the support levels are at 33460 and 32929.
Conclusion: This week’s release of inflation data is expected to influence the movement of DJ30. We predict that the DJ30 may reach our resistance levels at 34881 and 34775.
Last week, the USOUSD experienced significant growth, rising as much as 8%. However, this trend was short-lived as sentiment shifted following Russia’s plans to reduce their production. USOUSD closed the week at a rate of 79.71.
On the Weekly timeframe, we can see that the Stochastic Indicator is crossing back lower. The price is moving below the 20 and 50-period moving averages and above the 200-period moving averages.
Our Weekly resistance levels are at 82.42 and 86.84, with the support levels at 78.37 and 73.40.
On the daily timeframe, we can see that our Stochastic Indicator is moving higher, targeting the overbought level. Price moves above the 20, and 50-period moving averages and below the 200-period moving averages.
Our Daily resistance levels are at 81.45 and 84.65, while the support levels are at 77.47 and 75.25.
Conclusion: Market sentiment has been affected by Russia’s plans to decrease production, combined with ongoing demand following China’s opening of its borders. Despite this, we still anticipate that the USOUSD may continue to rise this week and potentially reach our resistance levels at 81.45 and 82.42.
Last week, the NAS100 index experienced a slight decline and failed to reach its expected resistance level. NAS100 closed the week at 12299.
On the Weekly timeframe, we can see that the Stochastic Indicator is still inside the overbought level and trying to exit. The price is moving above the 20, 50 and 200-period moving averages.
Our Weekly resistance levels are at 12960 and 13561, with the support levels at 12103 and 11556.
On the Daily timeframe, we can see that our Stochastic Indicator is moving lower targeting the oversold level. Price is moving above the 20 and 50, and 200-period moving averages.
Our Daily resistance levels are now at 12793 and 12983, while the support levels are at 12246 and 11768.
Conclusion: With the release of inflation data this week, NAS100 may continue its upward trend. We predict that the index may attempt to reach our next resistance level at 12793.
Last week, GBPUSD moved in a tight range and reached our daily resistance level, closing the week between our support and resistance level. GBPUSD closed the week lower at 1.2053.
On the Weekly timeframe, we can see that the Stochastic Indicator is crossing back lower. The price moves at the 20-period moving average, while below the 50 and 200-period moving averages.
Our Weekly resistance levels are now at 1.2201 and 1.2476, with the support levels at 1.1896 and 1.1611.
On the Daily timeframe, we can see that our Stochastic Indicator is moving higher, exiting the oversold level. Price is now moving below the 20, 50 and 200-period moving averages.
Our Daily resistance levels are now at 1.2126 and 1.2295, while the support levels are at 1.1943 and 1.1849.
Conclusion: This week, both the UK and US are set to release inflation data, potentially leading to increased volatility in the GBPUSD pair. Our analysis predicts that GBPUSD may move lower, potentially reaching below the 1.19 level.
Last week, USD Index moved higher and was able to break our resistance level at 103.20. USD Index closed the week at 103.45.
On the Weekly timeframe, we can see that the Stochastic Indicator is exiting the oversold level. Price is moving below the 20 and 50-period moving averages but still above the 200-period moving averages.
Our Weekly resistance levels are at 104.89 and 106.66, with the support levels at 101.25 and 98.52.
Meanwhile, on the Daily timeframe, the Stochastic Indicator is moving lower, trying to exit the overbought level. Price is now moving above the 20-period moving average while still moving below the 50 and 200-period moving averages.
Our Daily resistance levels at 104.40 and 105.18, with the support levels at 102.85 and 101.33.
Conclusion: This week, market activity is expected to be influenced by the highly-anticipated release of US inflation data, potentially leading to increased volatility. We predict that the USD Index may rise and reach our next resistance levels at 104.40 and 104.89.
Last week, USDJPY experienced a slight decline following the announcement that Kazuo Ueda will become the next governor of the Bank of Japan (BoJ). USDJPY closed the week at 131.42.
On the Weekly timeframe, we can see that the Stochastic Indicator is moving to exit the oversold level. The price moves below the 20 and 50-period moving averages but remains above the 200-period moving averages.
Our Weekly resistance levels are at 134.17 and 137.56, with the support levels at 126.45 and 121.96.
On the Daily timeframe, the Stochastic Indicator is moving lower near the overbought level. Price is moving just above the 20 -period moving average while still below the 50 and 200-period moving averages.
Our Daily resistance levels are 133.49 and 137.92, while the support levels are 127.81 and 125.04.
Conclusion: With the upcoming release of US inflation data, combined with ongoing positive sentiment surrounding the appointment of the next governor of BoJ, USDJPY may experience a decline. We predict that USDJPY may move lower, potentially reaching its support level at 127.81.
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