Spreads
Spreads
Spreads
Spreads
Spreads
Make informed decisions with the most up-to-date and reliable financial data, exclusively provided by vtmarkets.com.
EUR/USD (4 Hours)
The EUR/USD rose, breaking a two-day losing streak and reaching 1.1000, due to risk aversion in the market following a decline in stocks on Wall Street. The US JOLTS report showed lower-than-expected numbers. The Eurozone’s inflation rate in April increased slightly, with the core HICP dropping to 5.6%. The ECB is expected to raise interest rates on Thursday, with a 25 basis points hike predicted, but there are concerns about the potential risks of a 50 bps hike. The Q1 Bank Lending Survey revealed tight credit standards and a slowdown in credit demand. The Fed will make its decision on monetary policy on Wednesday, with a 25 basis points rate hike expected.
Based on technical analysis, the EUR/USD pair has experienced a slight upward movement and has successfully reached our previous resistance level. The current price is now situated above the middle band of the Bollinger band and is trying to reach the upper band. It is anticipated that the EUR/USD will reach our resistance level at 1.1026. The Relative Strength Index (RSI) is currently at 56, indicating that the EUR/USD is in a bullish mode.
Resistance: 1.1026, 1.1068
Support: 1.0984, 1.0962
XAU/USD (4 Hours)
The price of spot gold (XAU/USD) rose to a three-week high of $2,019.33 per troy ounce as the US dollar weakened due to disappointing US data and falling government bond yields. Stock markets fell amid concerns about the banking system, leading to increased demand for the safe-haven metal. The European Central Bank’s Bank Lending Survey showed a fall in demand for credit and tightening lending standards for companies. A group of US lawmakers urged the Federal Reserve to halt its rate hikes amid concerns about job losses and small businesses. The JOLTS Job Openings survey showed a decline in vacancies and an increase in layoffs, while Factory Orders rose slightly in March. US Treasury yields also fell as investors sought safety.
Based on technical analysis, the XAU/USD has moved back up and reached the resistance levels. It is currently situated at the upper band of the Bollinger Band and attempting to push even higher. The Relative Strength Index (RSI) is currently at 67, indicating that the XAU/USD may continue to rise and is currently in a bullish mode.
Resistance: $2,024, $2,035
Support: $2,006, $1,993
Make informed decisions with the most up-to-date and reliable financial data, exclusively provided by vtmarkets.com.
