Spreads
Spreads
Spreads
Spreads
Spreads
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Gold (XAUUSD)
Last week, gold moved lower after another strong week for the US dollar. Gold closed the week at $1,913.
On the weekly timeframe, we can see that the Stochastic Indicator is crossing back lower in the middle. The gold price is now above the 20-period moving average but below the 50 and 200-period moving averages.
Our weekly resistance levels are at $1,941 and $1,969, with support levels at $1,897 and $1,863.
On the daily timeframe, the Stochastic Indicator is within the oversold area, while 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 $1,925 and $1,943, with support levels at $1,910 and $1,895.
Conclusion: This week, gold will experience high volatility with the release of US retail sales. We anticipate that gold will move higher and attempt to reach our resistance level at $1,941.
EURUSD
Last week, EURUSD moved lower and reached below our support levels. EURUSD closed the week at 1.0946.
On the weekly timeframe, the Stochastic Indicator is moving lower in the middle. The price is currently trading above the 20 and 50 but below the 200-period moving averages.
Our weekly resistance levels are at 1.1083 and 1.1269, with support levels at 1.0922 and 1.0826.
On the daily timeframe, the Stochastic Indicator is moving in the middle, while the price is moving below the 20 and 50, but still above the 200-period moving averages.
Our daily resistance levels are at 1.0996 and 1.1057, while the support levels are at 1.0914 and 1.0852.
Conclusion: This week, we expect high volatility for EURUSD due to the upcoming US retail sales data. The current market sentiment favours the USD, but we anticipate that EURUSD will maintain its lower momentum, possibly reaching our support level at 1.0922.
DJ30
Last week, the DJ30 moved higher and was able to reach our resistance levels as expected. The DJ30 closed the week higher at 35,302.
On the weekly timeframe, we can see that the Stochastic Indicator is flat entering 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 in the middle. The price is moving above the 20, 50, and 200-period moving averages.
Our daily resistance levels are at 35,577 and 35,967, with support levels at 35,035 and 34,586.
Conclusion: The US stock market is expected to experience a high volatility week as the market will focus on the US retail sales data. We can anticipate the DJ30 to move slightly higher and reach our resistance level at 35,502.
USOUSD
Last week, USOUSD (Oil) experienced high volatility, ultimately returning to a level similar to the week’s opening price. USOUSD concluded the week by closing at 83.09.
On the weekly timeframe, we can see that the Stochastic Indicator is moving higher inside the overbought area. The price is currently moving above the 20, 50 and 200-period moving averages.
Our weekly resistance levels are 83.67 and 87.97, with support levels at 79.86 and 76.05.
On the daily timeframe, the Stochastic Indicator is moving at the edge of the overbought area. The price is now moving above the 20, 50 and 200-period moving averages.
Our daily resistance levels are at 83.33 and 86.14, while support levels are at 78.91 and 75.74.
Conclusion: This week, there could be high volatility in USOUSD due to the upcoming US retail sales data. We might witness a stronger upward movement with the potential to reach our resistance level at 83.33.
NAS100
Last week, the NAS100 moved lower and was able to break our support levels. The NAS100 closed the week lower at 15,037.
On the weekly timeframe, we can see that the Stochastic Indicator is moving lower after exited the overbought area. The price is currently still moving above the 20, 50, and 200-period moving averages.
Our weekly resistance levels are at 15,318 and 15,932, with support levels at 14,658 and 13,915.
On the daily timeframe, the stochastic indicator is moving lower entering the oversold area. The price is now moving below the 20 at the 50 and above the 200-period moving averages.
Our daily resistance levels are currently at 15,249 and 15,544, while support levels are at 14,868 and 14,502.
Conclusion: This week, the US stock market is expected to experience a high volatility week as the market will focus on US retail sales data. We can anticipate the NAS100 to move slightly higher and reach our resistance level at 15,318.
GBPUSD
Last week, GBPUSD moved slightly lower and reached our weekly support level. GBPUSD closed the week at 1.2697.
On the weekly timeframe, the Stochastic Indicator is moving lower targeting the oversold area. The price is currently moving above the 20 and 50, but still below the 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 lower targeting the oversold area. The price is currently still moving below the 20, at the 50 and above the 200-period moving averages.
Our daily resistance levels are now at 1.2821 and 1.2976, while support levels are at 1.2612 and 1.2406.
Conclusion: This week, we can expect high volatility in GBPUSD as it will be affected by US retail sales data. We anticipate some higher movement in the pair, with the potential of reaching higher to our resistance level at 1.2821.
USD Index
Last week, the USD Index moved higher and reached above our resistance level at 101.93. The USD Index closed the week at 102.70.
On the weekly timeframe, we can see that the Stochastic Indicator is moving higher targeting the overbought area. The price is currently below the 50, but still above the 20 and 200-period moving averages.
Our weekly resistance levels are at 103.14 and 104.48, with support levels at 101.66 and 100.39.
On the daily timeframe, the Stochastic Indicator is moving higher targeting the overbought area. The price is now moving above the 20 and 50, but still below the 200-period moving averages.
Our daily resistance levels are at 103.25 and 104.21, with support levels at 102.26 and 101.59.
Conclusion: We anticipate a potential lower movement in the USD Index, with the possibility of reaching our support level at 102.26.
USDJPY
Last week, USDJPY was able to move higher and able to break our resistance level. USDJPY closed the week at 144.94.
On the weekly timeframe, we can observe that the Stochastic Indicator moving in the middle. The price is still moving above the 20, 50, and 200-period moving averages.
Our weekly resistance levels are at 145.71 and 148.76, with support levels at 141.78 and 138.72.
On the daily timeframe, the stochastic indicator is entering the overbought area. The price is now moving above the 20, 50, and 200-period moving averages.
Our daily resistance levels are currently at 146.86 and 150.12, while the support levels are at 142.56 and 140.26.
Conclusion: This week, USDJPY is expected to experience high volatility as the market waits for the US retail sales data. We anticipate that the pair will move higher and potentially reach above our resistance level at 146.86.
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