Spreads
Spreads
Spreads
Spreads
Spreads
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Last week, gold moved lower after another strong week for the US dollar. Gold closed the week at $1,889.
On the weekly timeframe, we can see that the Stochastic Indicator is moving lower targeting the oversold area. The gold price is now moving below the 20 and 50-period moving averages but still above the 200-period moving averages.
Our weekly resistance levels are at $1,913 and $1,941, with support levels at $1,863 and $1,841.
On the daily timeframe, the Stochastic Indicator is within the oversold area, while the price is currently below the 20, 50 and 200-period moving averages.
Our daily resistance levels are at $1,901 and $1,926, with support levels at $1,865 and $1,835.
Conclusion: Anticipating a week with limited high-impact news, gold is likely to encounter low volatility. Our expectation is for gold to trend higher, with an attempt to reach our resistance level at $1,901.
Last week, EURUSD moved lower and reached below our support levels. EURUSD closed the week at 1.0868.
On the weekly timeframe, the Stochastic Indicator is moving lower targeting the oversold area. The price is currently trading above the 50 but below the 20 and 200-period moving averages.
Our weekly resistance levels are at 1.0941 and 1.1083, with support levels at 1.0826 and 1.0636.
On the daily timeframe, the Stochastic Indicator is moving lower targeting the oversold area, while the price is moving below the 20 and 200, but still above the 50-period moving averages.
Our daily resistance levels are at 1.0905 and 1.0996, while the support levels are at 1.0839 and 1.0747.
Conclusion: This week, we expect volatility for EURUSD due to the upcoming manufacturing and services PMI data in some countries in the EU. The current market sentiment favours the USD, but we anticipate that EURUSD will maintain its lower momentum, possibly reaching our support level at 1.0826.
Last week, the DJ30 moved lower and was able to break our support levels. The DJ30 closed the week higher at 34,472.
On the weekly timeframe, we can see that the Stochastic Indicator is trying to exit the overbought area. The price is currently moving above the 20, 50 and 200-period moving averages.
Our weekly resistance levels are at 35,502 and 36,465, with support levels at 34,276 and 33,503.
On the daily timeframe, we can see that the stochastic indicator is moving inside the oversold area. The price is moving below the 20 and 50, but still above the 200-period moving averages.
Our daily resistance levels are at 34,974 and 35,577, with support levels at 34,296 and 33,691.
Conclusion: The US stock market is anticipated to experience a week of low volatility, primarily due to the absence of significant high-impact news. We foresee a modest upward movement in the DJ30, possibly approaching our resistance level at 35,502.
Last week, USOUSD (Oil) moved lower and was able to reach our support levels. The pair ended at 81.05.
On the weekly timeframe, we can see that the Stochastic Indicator is moving lower but still 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 oversold 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: We anticipate a week of low volatility in USOUSD due to the absence of major high-impact news. There’s a possibility of a more pronounced upward movement, potentially leading to a test of our resistance level at 83.33.
Last week, the NAS100 moved lower and was able to break our support levels. The NAS100 closed the week lower at 14,689.
On the weekly timeframe, we can see that the Stochastic Indicator is moving lower after targeting the oversold 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 inside 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 14,879 and 15,249, while support levels are at 14,502 and 14,238.
Conclusion: The US stock market is expected to undergo a week of low volatility due to the absence of significant high-impact news. We anticipate a marginal upward movement in the NAS100, with the potential to approach our resistance level at 15,318.
Last week, GBPUSD moved slightly higher but was unable to reach our weekly support level. GBPUSD closed the week at 1.2730.
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 higher in the middle. 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 anticipate low volatility in GBPUSD due to the absence of significant high-impact news. We expect some downward movement in the pair, with the potential to reach our support level at 1.2612.
Last week, the USD Index moved higher and was able to break above our resistance level. The USD Index closed the week at 103.31.
On the weekly timeframe, we can see that the Stochastic Indicator is moving higher targeting the overbought area. The price is currently above the 20, 50 and 200-period moving averages.
Our weekly resistance levels are at 104.48 and 106.71, with support levels at 102.51 and 100.39.
On the daily timeframe, the Stochastic Indicator is moving flat inside the overbought area. The price is now moving above the 20, 50 and 200-period moving averages.
Our daily resistance levels are at 103.59 and 104.21, with support levels at 102.72 and 102.12.
Conclusion: We anticipate a potential lower movement in the USD Index, with the possibility of reaching our support level at 102.51.
Last week, USDJPY was able to move higher and able to reach our resistance level. USDJPY closed the week at 145.38.
On the weekly timeframe, we can observe that the Stochastic Indicator moving higher targeting the overbought area. 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 moving inside 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: Anticipating a week of high volatility for USDJPY, the market remains watchful for any potential intervention by the Bank of Japan in the currency market. Our expectation is for the pair to move lower, possibly reaching below our support level at 142.56.
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