Spreads
Spreads
Spreads
Spreads
Spreads
Last week, gold had quiet volatility and moved lower as the market sentiment changed to risk-on. Gold closes the week between our support and resistance levels at $1,968.
On the weekly timeframe, we can see the Stochastic Indicator entering the overbought level. The gold price is currently moving above the 20, 50, and 200-period moving averages.
Our weekly resistance levels are at $1,998 and $2,033 with the support levels at $1,960 and $1,918.
Meanwhile, on the daily timeframe, the Stochastic Indicator is moving in the middle with a flat movement. The price is still moving above the 20, 50, and 200-period moving averages.
Our daily resistance levels are at $1,997 and $2,015, with the support levels at $1,967 and $1,948.
Conclusion: This week, we will have high volatility as we will have US Jobs data and market holidays in some countries which may lead investment moves to safe haven. For this week, we expect that gold may continue to move higher and try to reach near the $2,000 level.
Last week, EURUSD was able to move higher and break our resistance level at 1.0789 as expected. EURUSD closed the week at 1.0840.
On the weekly timeframe, the Stochastic Indicator is moving higher in the middle. The price is still trading below the 200-period moving average and above the 20 and 50-period moving averages.
Our weekly resistance levels are at 1.0933 and 1.1119, with support levels at 1.0759 and 1.0607.
On the daily timeframe, the Stochastic Indicator is moving flat in the middle with some higher movement to the overbought level. The price is now moving above the 20, 50 and 200-period moving averages.
Our daily resistance levels are at 1.0909 and 1.0988, while the support levels are at 1.0764 and 1.0707.
Conclusion: This week, the market focus is still on the US Jobs data which will be released on Friday. We expect EURUSD to move between our support and resistance levels at 1.0764 and 1.0933.
DJ30
Last week, the DJ30 moved higher as the market sentiment switched to risk-on and was able to break our resistance levels at 32768. The DJ30 closed the week higher at 33347.
On the weekly timeframe, we can see that the Stochastic Indicator is moving strongly higher, exiting the oversold level. The price is now moving above the 20, 50 and 200-period moving averages.
Our weekly resistance levels are at 33776 and 34785, with support levels at 32696 and 31663.
In the daily timeframe, we can see that the stochastic indicator is moving higher entering the overbought level. The price is now moving ABOVE the 20, 50 and 200-period moving averages.
Our daily resistance levels are at 33472 and 34278, with support levels at 32801 and 31795.
Conclusion: With the US releasing its obs report this week, we expect DJ30 to move lower back to reach our support level at 32696.
Last week, USOUSD (Oil) prices moves strongly higher as there were some supply worries. The pair was able to break our resistance level at 71.76 as expected. USOUSD closes the week at 75.58.
On the weekly timeframe, the Stochastic Indicator is still in the middle slowly moving lower. The price is moving below the 20 and 50-period moving averages and is now back above the 200-period moving averages.
Our weekly resistance levels are at 76.71 and 81.50, with support levels at 69.35 and 63.42.
On the daily timeframe, the Stochastic Indicator is moving higher entering the overbought level. Price is now moving above the 20 and 50-period moving averages but still far below the 200-period moving averages.
Our daily resistance levels are at 77.12 and 80.57, while support levels are at 73.62 and 71.42.
Conclusion: As the Kurdish supply disruption continues, we may see some higher movement in the USOUSD. For this week, we expect USOUSD to continue to move slightly higher and reach our resistance level at 77.12.
Last week, the NAS100 moved higher as the market sentiment switched to risk-on and was able to break our resistance levels at 12797. The NAS100 closed the market at 13193.
On the weekly timeframe, the Stochastic Indicator is moving higher in the middle targeting the overbought level. The price is currently above the 20, 50 and 200-period moving averages.
Our weekly resistance levels are at 13580 and 14279, with support levels at 12595 and 11896.
On the daily timeframe, the stochastic indicator is moving higher entering the overbought level. The price is now trading above the 20, 50, and 200-period moving averages.
Our daily resistance levels are currently at 13314 and 13668, while support levels are at 12844 and 12577.
Conclusion: With the US releasing its jobs report this week, we expect the NAS100 to move lower back to reach our support level at 12844.
Last week, GBPUSD was able to move higher as expected and able to break above our resistance level at 1.2284 level. GBPUSD currently close the week at 1.2328.
On the weekly timeframe, the Stochastic Indicator is moving higher targeting the overbought level, and the price is now moving above the 20 and 50-period moving averages and below the 200-period moving average.
Our weekly resistance levels are at 1.2443 and 1.2661, while support levels are at 1.2155 and 1.1887.
On the daily timeframe, our stochastic indicator is moving just around the overbought level. The price is above the 20, 50, and 200-period moving averages.
Our daily resistance levels are now at 1.2344 and 1.2422, while support levels are at 1.2283 and 1.2192.
Conclusion: For this week, we expect GBPUSD to move higher to try to break our resistance level at 1.2443.
Last week, USD Index continued to move lower as the market now is in risk-on sentiment. The USD Index moved slightly lower and closed the week at 102.26.
On the weekly timeframe, we can see that the Stochastic Indicator is moving lower in the middle. Price is moving BELOW the 20 and 50-period moving averages but still above the 200-period moving average.
Our weekly resistance levels are at 103.69 and 105.43 with the support levels at 101.25 and 99.35.
On the daily timeframe, the Stochastic Indicator is moving flat in the middle. Price is now moving below the 20, 50 and 200-period moving averages.
Our daily resistance levels are at 102.81 and 103.66 with the support levels at 101.57 and 100.69.
Conclusion: This week, the USD Index will be moving in high volatility as the US will release its jobs report which is a market mover. We anticipate the USD Index to move higher to reach our nearest resistance level at 102.81.
Last week, USDJPY moved higher as the market was moving to risk-on sentiment, creating a low demand for JPY. USDJPY closes the week at 132.81.
On the weekly timeframe, we can see that the Stochastic Indicator is strongly moving lower in the middle. The price is moving below the 20 and 50-period moving averages and still above the 200-period moving average.
Our weekly resistance levels are at 134.19 and 136.79, with the support levels at 129.88 and 126.83.
On the daily timeframe, the stochastic indicator is moving higher targeting the overbought level. Price is moving at 20-period and below the 50 and 200-period moving averages.
Our daily resistance levels are now at 133.01 and 134.51, while the support levels are at 131.31 and 129.61.
Conclusion: This week, USDJPY may still be affected by the risk-on sentiment of the market. We expect the pair to continue to move higher and reach our next support level at 133 level.
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