Spreads
Spreads
Spreads
Spreads
Spreads
Gold (XAUUSD)
Last week, gold experienced an upward trend and successfully reached our weekly resistance level. The precious metal ended the week at $1,960, slightly above the support level.
On the weekly timeframe, we can observe that the Stochastic Indicator is still moving lower, entering the oversold area. This indicates that gold is in a bearish mode but starting to show signs of exhaustion. The gold price remains above the 20, 50, and 200-period moving averages.
Our weekly resistance levels are at $1,973 and $2,017, with support levels at $1,944 and $1,901.
On the daily timeframe, the Stochastic Indicator is moving in the middle. The price is currently below the 20 and 50-period moving averages, but still above the 200-period moving average.
Our daily resistance levels are at $1,979 and $2,004, with support levels at $1,933 and $1,902.
Conclusion: This week, gold is expected to exhibit high volatility due to the release of important data from the US, including the Fed’s interest rates and inflation figures. We anticipate that gold may experience significant movement and potentially surpass our resistance levels at $1,973 and $1,979.
EURUSD
Last week, the EURUSD experienced a modest upward movement and successfully reached our resistance levels. The currency pair closed the week at 1.0748.
On the weekly timeframe, the Stochastic Indicator is moving trying to cross back higher inside the oversold area. The price is currently trading below the 20 and 200-period moving averages, but just above the 50-period moving average.
Our weekly resistance levels are at 1.0787 and 1.0922, with support levels at 1.0635 and 1.0517.
On the daily timeframe, the Stochastic Indicator is moving higher in the middle targeting the overbought level. The price is now moving below the 20 and 50-period moving averages, but still above the 200-period moving average.
Our daily resistance levels are at 1.0769 and 1.0859, while the support levels are at 1.0664 and 1.0523.
Conclusion: This week, expect high volatility in the EURUSD as the ECB is set to release its interest rates. We predict that the currency pair will experience a corrective move higher and may potentially surpass our resistance level at 1.0787.
DJ30
Last week, the DJ30 saw a relatively slow movement, with markets anticipating more volatile activity this week. The index closed the week with a slight increase, settling at 33,883.
On the weekly timeframe, we can observe that the Stochastic Indicator is crossing higher in the middle. The price is currently moving higher than the 20, 50 and 200-period moving average.
Our weekly resistance levels are at 34,163 and 34,876, with support levels at 33,412 and 32,696.
On the daily timeframe, we can see that the stochastic indicator is moving strongly higher and targeting the overbought area. The price is moving above all the 20, 50 and 200-period moving averages.
Our daily resistance levels are at 33,893 and 34,134, with support levels at 33,341 and 33,077.
Conclusion: The US stock market is expected to experience high volatility this week due to the Fed rate decision and the release of US inflation data. We anticipate that the DJ30 will move higher and may potentially surpass our resistance level at 33,893.
USOUSD
Last week, USOUSD (Oil) moved lower and was able to reach our support level. USOUSD closed the week at 70.32.
On the weekly timeframe, we can observe that the Stochastic Indicator is moving in the middle with no clear direction. The price is currently moving below the 20, 50, and 200-period moving averages.
Our weekly resistance levels are at 77.66 and 82.52, with support levels at 69.35 and 63.98.
On the daily timeframe, the Stochastic Indicator is just crossing back lower in the middle. The price is now moving below the 20, 50, and 200-period moving averages.
Our daily resistance levels are at 74.38 and 76.59, while support levels are at 70.07 and 67.63.
Conclusion: This week, anticipate increased volatility in the USOUSD as the market awaits the Fed’s decision. We could see upward movement, with the potential to reach our resistance level at 74.38.
NAS100
Last week, the NAS100 saw a relatively slow movement, with markets anticipating more volatile activity this week. The index closed the week higher at 14,555.
On the weekly timeframe, we can observe that the Stochastic Indicator is still within the overbought range. The price is currently moving above the 20, 50, and 200-period moving averages.
Our weekly resistance levels are at 14,848 and 15,681, with support levels at 13,840 and 13,209.
On the daily timeframe, the stochastic indicator is moving lower in the middle. The price is moving above the 20, 50, and 200-period moving averages.
Our daily resistance levels are currently at 14,706 and 15,256, while support levels are at 13,880 and 13,451.
Conclusion: This week, the US stock market is expected to experience high volatility due to the Fed rate decision and the release of US inflation data. We anticipate that the NAS100 will move higher and may potentially surpass our resistance level at 14,848.
GBPUSD
Last week, GBPUSD experienced an increase and managed to surpass our daily resistance level. The currency pair closed the week at 1.2578.
On the weekly timeframe, the Stochastic Indicator is crossing back higher just above the oversold area. The price is currently moving above the 20 and 50-period moving averages, but below the 200-period moving average.
Our weekly resistance levels are at 1.2661 and 1.2836, while support levels are at 1.2406 and 1.2224.
On the daily timeframe, our stochastic indicator is moving strongly higher and targeting the overbought level. The price is currently moving above the 20, 50 and 200-period moving averages.
Our daily resistance levels are now at 1.2601 and 1.2653, while support levels are at 1.2529 and 1.2466.
Conclusion: This week, expect high volatility in GBPUSD as the UK releases their GDP data, while the US announces the Fed rate decision and inflation data. We anticipate further upward movement in GBPUSD, potentially reaching higher towards our resistance levels at 1.2661.
USD Index
Last week, the USD Index experienced a downward movement as the market awaited a clearer direction in the coming week, influenced by the Fed rate decision and inflation data. The index closed the week at 103.51.
On the weekly timeframe, we can observe that the Stochastic Indicator is moving inside the overbought area but with a potential of crossing back lower. The price is currently above the 20, 50, and 200-period moving averages.
Our weekly resistance levels are 104.91 and 106.47, with support levels at 103.20 and 101.68.
On the daily timeframe, the Stochastic Indicator is moving lower in the middle targeting the oversold level. The price is now moving above the 20, 50, and just slightly below the 200-period moving averages.
Our daily resistance levels are at 103.74 and 104.40, with support levels at 103.26 and 102.83.
Conclusion: This week, expect high volatility in the USD Index due to the Fed rate decision and inflation data. We anticipate that the USD Index may move lower and potentially reach our support level at 103.20.
USDJPY
Last week, USDJPY moved lower as the US Dollar experienced a weak performance. The currency pair closed the week at 139.36.
On the weekly timeframe, we can observe that the Stochastic Indicator is moving inside the overbought zone. The price is above the 20, 50, and 200-period moving averages.
Our weekly resistance levels are at 142.14 and 145.13, with support levels at 137.94 and 135.50.
On the daily timeframe, the stochastic indicator is still moving in the middle with no clear direction. The price is still above the 20, 50, and 200-period moving averages.
Our daily resistance levels are currently at 140.77 and 142.26, while the support levels are at 138.73 and 137.66.
Conclusion: This week, expect high volatility in USDJPY as the Bank of Japan releases its monetary policy, even though the market expects the BOJ to maintain its interest rate. We anticipate that USDJPY will continue to rise and potentially reach our next resistance level at 140.77.
