Spreads
Spreads
Spreads
Spreads
Spreads
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Last week, gold moved higher and was able to break above our resistance levels. Gold closed the week at $1,914.
On the weekly timeframe, we can see that the Stochastic Indicator is moving lower as it enters the oversold area. The gold price is now moving below the 20-period moving average, but it is still above the 50 and 200-period moving averages.
Our weekly resistance levels are at $1,941 and $1,982, with support levels at $1,885 and $1,842.
On the daily timeframe, the Stochastic Indicator is moving higher in an attempt to enter the overbought area, while the price is currently below the 20 and 50-period moving averages, but it is still above the 200-period moving average.
Our daily resistance levels are at $1,926 and $1,947, with support levels at $1,907 and $1,885.
Conclusion: We are anticipating high-impact data from the US this week, which is expected to influence the volatility in the Gold price. Our expectation is that gold will trend higher, with an attempt to reach our resistance level at $1,926.
During the previous week, EURUSD moved lower and fell below our support levels, ultimately closing the week at 1.0793.
On the weekly timeframe, the Stochastic Indicator is moving lower, entering the oversold area. The price is currently trading above the 50-period moving average but is still below the 20 and 200-period moving averages.
Our weekly resistance levels are at 1.0941 and 1.1083, with support levels at 1.0636 and 1.0515.
On the daily timeframe, the Stochastic Indicator is moving flat, positioned just above the oversold area, while the price is currently moving below the 20, 50, and 200-period moving averages.
Our daily resistance levels are at 1.0861 and 1.0929, while the support levels are at 1.0747 and 1.0674.
Conclusion: This week, we anticipate increased volatility for EURUSD due to the upcoming German and Spanish CPI data, coupled with the release of the US jobs report. While the current market sentiment favours the USD, we expect that EURUSD will continue to sustain its downward momentum, potentially reaching our support level at 1.0747.
Last week, the DJ30 moved slightly lower and successfully breached our support levels. However, the DJ30 managed to close the week higher at 34,331.
On the weekly timeframe, it’s evident that the Stochastic Indicator has exited the overbought area. Additionally, the price is currently trending 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 trying to exit 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 34,467 and 34,963, with support levels at 33,890 and 33,310.
Conclusion: The US stock market is expected to undergo a week of high volatility, largely attributed to the upcoming high-impact data release of the US jobs report. We anticipate a moderate upward movement in the DJ30, potentially reaching towards our resistance level at 34,963.
Last week, USOUSD (Oil) moved slightly lower and was able to reach our support levels. The pair ended at 80.26.
On the weekly timeframe, we can see that the Stochastic Indicator is moving lower and 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 83.67 and 87.97, with support levels at 79.86 and 76.05.
On the daily timeframe, the Stochastic Indicator is moving flat, positioned just above the oversold area. The price is currently trading around the 20-period moving average and remains above the 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 are expecting significant volatility in USOUSD due to major high-impact news releases from the US. There is a potential for a more pronounced upward movement, which could potentially lead to a test of our resistance level at 83.33.
Last week, the NAS100 moved slightly higher and was able to break our daily resistance levels. The NAS100 closed the week lower at 14,932.
On the weekly timeframe, it is evident that the Stochastic Indicator is moving lower, aiming for the oversold area. Currently, the price remains 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 higher with the potential to cross back lower, positioned just below the overbought area. The price is currently below the 20-period moving average and the 50-period moving average while remaining above the 200-period moving average.
Our daily resistance levels are currently at 15,026 and 15,296, while support levels are at 14,783 and 14,502.
Conclusion: The US stock market is expected to encounter a week of elevated volatility, mainly attributed to the high-impact data release of the US jobs report. We anticipate a moderate upward movement in the NAS100, potentially approaching our resistance level at 15,318.
Last week, GBPUSD moved lower and was able to break our support levels. GBPUSD closed the week at 1.2576.
On the weekly timeframe, the Stochastic Indicator is moving lower, aiming for the oversold area. Currently, the price is above the 50-period moving average but below the 20 and 200-period moving averages.
Our weekly resistance levels are at 1.2825 and 1.3095, while support levels are at 1.2450 and 1.2163.
On the daily timeframe, our stochastic indicator is moving lower targeting the oversold area. The price is currently still moving below the 20 and 50, but still above the 200-period moving averages.
Our daily resistance levels are now at 1.2684 and 1.2821, while support levels are at 1.2527 and 1.2394.
Conclusion: This week, we are expecting heightened volatility in GBPUSD due to the significant impact of news from the US jobs report. We anticipate a downward movement in the pair, with the potential to reach our support level at 1.2527.
Last week, the USD Index moved higher and was able to break above our daily resistance level. The USD Index closed the week at 104.12.
On the weekly timeframe, it is evident that the Stochastic Indicator is moving higher, aiming for the overbought area. Currently, the price is 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, situated just below the overbought area. Currently, the price is above the 20, 50, and 200-period moving averages.
Our daily resistance levels are at 104.21 and 105.14, with support levels at 103.64 and 102.72.
Conclusion: We anticipate the USD Index to potentially move lower, with the possibility of reaching our support level at 103.64.
During the previous week, USDJPY managed to move higher and successfully broke above our resistance levels, closing the week at 146.43.
On the weekly timeframe, we can observe the Stochastic Indicator moving higher, aiming for the overbought area. The price continues to move above the 20, 50, and 200-period moving averages.
Our weekly resistance levels are at 148.76 and 151.89, with support levels at 144.61 and 141.78.
On the daily timeframe, the stochastic indicator is moving in the middle. The price is now moving above the 20, 50, and 200-period moving averages.
Our daily resistance levels are currently at 146.86 and 149.01, while the support levels are at 144.77 and 142.56.
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. We expect the pair to move higher, with a possibility of reaching just below our resistance level at 146.86.
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