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Last week, gold prices experienced a decline due to the release of strong data by the US. Gold closed the week at 1842.
On the Weekly timeframe, the Stochastic Indicator moves strongly lower, targeting the oversold level. The price of gold is still moving above the 20, 50, and 200-period moving averages.
Our Weekly resistance levels are at $1,866 and $1,897, with the support levels at $1,807 and $1,781.
On the Daily timeframe, the Stochastic Indicator is strongly moving inside the oversold level. Price is moving below the 20 and 50-period moving averages but still above the 200-period moving averages.
Our Daily resistance levels are at $1,854 and $1,890, with the support levels at $1,824 and $1,803.
Conclusion: This week, a few key events may impact the markets, including the release of the FOMC Meeting Minutes and PMI data from the UK and the US. Our analysis shows that gold prices will increase slightly and reach our resistance level of $1,854.
Last week, EURUSD moved in the consolidation range between our support and resistance level. EURUSD closed the week slightly higher at 1.0693.
On our Weekly timeframe, the Stochastic Indicator is strongly lower in the middle, targeting the oversold 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 just above 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, several important data releases in the US could impact the EURUSD currency pair. Based on our analysis, the EURUSD may experience some downward movement and reach our next support level at 1.0554.
Last week, DJ30 experienced some volatility as market participants reacted to mixed news regarding inflation and the Federal Reserve’s comments. Despite this, the index remained within a specific range, closing the week at 33,820.
On the Weekly timeframe, we can see that the Stochastic Indicator is moving in the middle. Price is still 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 50 and 200-period moving averages but below the 20-period moving averages.
Our Daily resistance levels are 34391 and 34775, while the support levels are 33460 and 32929.
Conclusion: This week, the FOMC meeting minutes release could impact the movement of the DJ30 index. Additionally, there will be several earnings reports from retail companies that may influence investor sentiment. Based on our analysis, the DJ30 may reach our resistance levels at 34,881 and 34,775.
The past week was challenging for USOUSD, as the price declined by 4.44%. The market is still waiting for more information regarding Russia’s oil production, which has contributed to the decrease in the value of USOUSD. At the end of the week, USOUSD closed at 76.34.
On the Weekly timeframe, we can see that the Stochastic Indicator is moving lower in the middle. 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 78.77 and 82.42, with the support levels at 73.40 and 69.60.
Our Daily timeframe shows that our stochastic indicator is moving lower, targeting the oversold level. Price moves below the 20, 50 and 200-period moving averages.
Our Daily resistance levels are at 77.42 and 80.06, while the support levels are at 75.25 and 73.19.
Conclusion: Uncertainty persists in the market due to unclear information regarding oil production in Russia and fluctuations in global demand. However, this week, we anticipate that the USOUSD may increase as it approaches our resistance levels of 80.06 and 82.42.
The NAS100 saw a slight increase last week as investors reacted to mixed US economic data releases. Despite the mixed sentiment, the index closed the week at 12,348.
On the Weekly timeframe, we can see that the Stochastic Indicator is still trying to exit the overbought level. The price is 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.
Our Daily timeframe shows that our stochastic indicator is crossing back lower in the middle. 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: This week, the NAS100 is expected to experience some movement as companies continue to release their earnings reports, and the FOMC meeting minutes may also impact investor sentiment. Based on our analysis, the NAS100 may reach our resistance levels at 12,793.
Last week, GBPUSD moved in a tight range. GBPUSD closed the week just slightly lower at 1.2039.
On the Weekly timeframe, we can see that the Stochastic Indicator is moving lower, targeting the oversold level. The price moves at the 20-period while below the 50 and 200-period moving averages.
Our Weekly resistance levels are at 1.2201 and 1.2476, with the support levels at 1.1896 and 1.1611.
Our Stochastic Indicator is moving lower on the Daily timeframe, targeting the oversold level. Price is 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 the US will release PMI data, while the US will also share the FOMC meeting minutes, which could create some volatility in the GBPUSD. Based on our analysis, we anticipate that GBPUSD may decrease and fall below the 1.19 level.
The USD Index saw a slight increase last week following some strong data releases in the US. However, the gains were limited due to comments made by Fed officials. By the end of the week, the USD Index closed at 103.80.
On the Weekly timeframe, we can see that the Stochastic Indicator is moving strongly higher in the middle. 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.
On the Daily timeframe, the Stochastic Indicator moves just below the overbought level. Price is now moving above the 20 and 50-period moving averages while still moving below the 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, the USD Index may be affected by the release of the FOMC meeting minutes, which could lead to some movement in the currency. Based on our analysis, we anticipate that the USD Index may decrease and reach our support level of 102.85.
Last week, the USDJPY currency pair experienced an increase in value due to the release of strong economic data in the US. By the end of the week, the currency pair closed at 134.12.
On the Weekly timeframe, we can see that the Stochastic Indicator is moving strongly higher, targeting the overbought level. While the price moves below the 20-period moving average but above the 50 and 200-period moving averages.
Our Weekly resistance levels are 134.17 and 137.56, with the support levels at 130.79 and 126.45.
The Stochastic Indicator is moving inside the overbought level on the Daily timeframe. Price is now moving above the 20, 50 and 200-period moving averages.
Our Daily resistance levels are 135.21 and 137.92, while the support levels are 133.05 and 130.54.
Conclusion: This week, the market eagerly anticipates the release of the FOMC meeting minutes, which is expected to impact the market significantly. Based on our analysis, USDJPY may move lower and reach our support level at 133.05.
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