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)
EUR/USD Continues Decline Amid Weaker Euro and Central Bank Decisions
The EUR/USD pair experienced its fifth consecutive day of losses as the Euro weakened ahead of central bank decisions. The European Central Bank (ECB) survey revealed a significant drop in loan demand from companies, indicating a deteriorating economic outlook. The German July IFO survey also disappointed expectations. While a 25-basis point rate hike from the ECB is anticipated, the future interest rate trajectory remains uncertain. The focus now shifts to the upcoming FOMC meeting, where the Federal Reserve’s rate decision and messaging will be critical for the EUR/USD direction, with potential for increased volatility in the market.
According to technical analysis, the EUR/USD pair is experiencing a downward movement on Tuesday, leading to a push towards the lower band of the Bollinger Bands. This movement has also resulted in a wider gap between the bands. The Relative Strength Index (RSI) currently stands at 29, indicating that there is potential for further downward movement in the EUR/USD pair.
Resistance: 1.1121, 1.1208
Support: 1.1022, 1.0950
XAU/USD (4 Hours)
XAU/USD Prices Up as US Dollar Surges Amidst Fragile Economic Balance
Gold prices have risen despite XAU/USD reaching a one-week low, as the US Dollar strengthened due to a bleak economic outlook. The upcoming monetary policy announcements by the US Federal Reserve and the European Central Bank are awaited with caution, with expectations of a rate hike. Traders are also keeping an eye on macroeconomic figures, including Q2 Gross Domestic Product and inflation updates for the US and Germany, to determine the direction of the FX board in the coming weeks.
According to technical analysis, the XAU/USD pair initially experienced a slight decline on Monday. However, it subsequently rebounded and reached the middle band of the Bollinger Bands. At present, the price is slightly above the middle band. Furthermore, the Relative Strength Index (RSI) currently stands at 51, indicating that the XAU/USD pair is still in a neutral position.
Resistance: $1,971, $1,992
Support: $1,954, $1,941
Make informed decisions with the most up-to-date and reliable financial data, exclusively provided by vtmarkets.com.
