Spreads
Spreads
Spreads
Spreads
Spreads
Make informed decisions with the most up-to-date and reliable financial data, exclusively provided by vtmarkets.com.
Gold (XAUUSD)
Gold experienced a slight upward movement last week, successfully reaching our predicted support level. The week concluded with gold closing at $1,961.
On the weekly timeframe, we can see that the Stochastic Indicator is moving higher in the middle. The gold price is now moving above the 20, 50, and 200-period moving averages.
Our weekly resistance levels are at $1,969 and $2,005, with support levels at $1,945 and $1,910.
On the daily timeframe, the Stochastic Indicator is moving lower trying to exit the overbought area, while the price is currently above the 20, 50 and 200-period moving averages.
Our daily resistance levels are at $1,967 and $1,989, with support levels at $1,939 and $1,910.
Conclusion: This week, gold is expected to encounter high volatility, mainly due to the FOMC Meeting. The focus lies on the Fed’s decision concerning their interest rates. Anticipations suggest that gold may witness upward movement, with an attempt to reach our projected resistance level at $1,989.
EURUSD
Last week, the EURUSD pair exhibited a higher movement at the start of the week, reaching our anticipated resistance level. However, it later declined throughout the rest of the week, and the week concluded with the EURUSD closing at 1.1124.
On the weekly timeframe, the Stochastic Indicator is moving inside the overbought area. The price is currently trading above the 20, 50, AND 200-period moving averages.
Our weekly resistance levels are at 1.1269 and 1.1445, with support levels at 1.1057 and 1.0922.
On the daily timeframe, the Stochastic Indicator is moving strongly lower targeting the oversold area, while the price is still moving above the 20, 50 and 200-period moving averages.
Our daily resistance levels are at 1.1174 and 1.1269, while the support levels are at 1.1064 and 1.1003.
Conclusion: This week, EURUSD is expected to experience high volatility due to the upcoming rate decisions by the ECB and the Fed. The current market sentiment is favouring the USD, but despite that, there is an anticipation that EURUSD will sustain its upward momentum. It might have the potential to reach our projected resistance level at 1.1269.
DJ30
Last week, the DJ30 (Dow Jones Industrial Average) showed a rising trend and successfully surpassed our predicted resistance levels. The week concluded with the DJ30 closing higher at 35,236.
On the weekly timeframe, we can see that the Stochastic Indicator is moving in consolidation just below the overbought area. The price is currently moving higher than the 20, 50 and 200-period moving averages.
Our weekly resistance levels are at 35,502 and 36,465, with support levels at 34,496 and 33,503.
On the daily timeframe, we can see that the stochastic indicator is moving inside the overbought area. The price is now moving above the 20, 50, and 200-period moving averages.
Our daily resistance levels are at 35,425 and 35,967, with support levels at 35,035 and 34,586.
Conclusion: This week, the US stock market is anticipated to undergo a high volatility period, with the market closely focusing on the Fed rate decision scheduled for Wednesday. There is an expectation that the Fed might hold the interest rates, which could have a positive impact on the stock market. In line with this sentiment, we can anticipate the DJ30 to experience a slight upward movement and potentially reach our projected resistance level at 35,502.
USOUSD
Last week, USOUSD (Oil) moved higher and was able to reach near our resistance levels. USOUSD closed the week at 76.87.
On the weekly timeframe, we can see that the Stochastic Indicator is moving higher targeting the overbought area. The price is currently moving below the 50, but above the 20 and 200-period moving averages.
Our weekly resistance levels are at 77.66 and 82.34, with support levels at 73.74 and 70.28.
On the daily timeframe, the Stochastic Indicator is moving in the middle. The price is now moving above the 20 and 50, but still below the 200-period moving averages.
Our daily resistance levels are at 77.15 and 79.14, while support levels are at 74.38 and 71.43.
Conclusion: This week, USOUSD (Oil) is expected to experience high volatility, primarily influenced by the upcoming Fed rate decision. Given the current market sentiment, there is a possibility of witnessing a more pronounced upward movement, with the potential to reach our projected resistance level at 77.66.
NAS100
Last week, the NAS100 (Nasdaq 100 Index) experienced a slight upward movement at the beginning of the week, but it subsequently declined towards the end of the week. The week concluded with the NAS100 closing lower at 15,442.
On the weekly timeframe, we can see that the Stochastic Indicator is moving flat but slightly lower trying to exit the overbought area. The price is currently still moving above the 20, 50, and 200-period moving averages.
Our weekly resistance levels are at 15,681 and 16,407, with support levels at 15,153 and 14,658.
On the daily timeframe, the stochastic indicator is moving lower after exited the overbought area. The price is still moving above the 20, 50, and 200-period moving averages.
Our daily resistance levels are currently at 15,666 and 16,027, while support levels are at 15,253 and 14,866.
Conclusion: The US stock market is anticipated to undergo a high volatility period this week, with the market closely focusing on the Fed rate decision scheduled for Wednesday. There is an expectation that the Fed might hold the interest rates, which could potentially create a positive impact on the stock market. We can anticipate the NAS100 to experience a slight upward movement and potentially reach our projected resistance level at 15,681.
GBPUSD
Last week, GBPUSD moved lower below the 1.3 level as expected. GBPUSD closed the week at 1.2851.
On the weekly timeframe, the Stochastic Indicator is moving flat just inside the overbought area. The price is currently moving above the 20, 50 and 200-period moving averages.
Our weekly resistance levels are at 1.3095 and 1.3383, while support levels are at 1.2663 and 1.2318.
On the daily timeframe, our stochastic indicator is moving strongly inside the overbought area. The price is currently still moving above the 20, 50 and 200-period moving averages.
Our daily resistance levels are now at 1.2976 and 1.3139, while support levels are at 1.2828 and 1.2612.
Conclusion: This week, GBPUSD is expected to encounter high volatility, largely influenced by the Fed rate decision. As a result of the anticipated market reactions to the Fed’s decision, we can expect some pronounced movement in GBPUSD. There is a potential for the currency pair to move higher and potentially reach our projected resistance level at 1.2976.
USD Index
Last week, the USD Index was able to reach our support level at 99.29 just to move higher and break above our daily resistance level at 100.27. The USD Index closed the week at 100.78.
On the weekly timeframe, we can see that the Stochastic Indicator is moving lower targeting the oversold area. The price is currently below the 20 and 50, but still above the 200-period moving averages.
Our weekly resistance levels are at 101.35 and 103.14, with support levels at 98.20 and 96.73.
On the daily timeframe, the Stochastic Indicator is moving inside the oversold area. The price is still moving below the 20, 50 and 200-period moving averages.
Our daily resistance levels are at 100.92 and 101.64, with support levels at 100.29 and 99.29.
Conclusion: The USD Index is anticipated to experience high volatility this week. There is an expectation of a potential downward movement in the USD Index, with the possibility of reaching our projected support level at 100.29.
USDJPY
Last week, USDJPY followed the expected price action. It successfully reached our predicted support level at 137.46 before reversing higher and breaking above our resistance levels. The week concluded with USDJPY closing at 141.83.
On the weekly timeframe, we can observe that the Stochastic Indicator moving lower in the middle. The price is still moving above the 20, 50, and 200-period moving averages.
Our weekly resistance levels are at 144.97 and 148.76, with support levels at 138.72 and 134.17.
On the daily timeframe, the stochastic indicator is moving strongly lower inside the oversold area. The price is now moving below the 20 and 50, but still above the 200-period moving averages.
Our daily resistance levels are currently at 142.11 and 144.80, while the support levels are at 140.26 and 137.46.
Conclusion: This week, USDJPY is expected to undergo high volatility, primarily due to the market’s anticipation of the Fed rate decision and the BOJ rate statement. Given the current market sentiment, there is an anticipation that USDJPY will move lower, with the potential of reaching below our projected support level of 140.
Make informed decisions with the most up-to-date and reliable financial data, exclusively provided by vtmarkets.com.
