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 $1,939.
On the weekly timeframe, we can observe that the Stochastic Indicator is attempting to move higher, just above the oversold area. Additionally, the gold price is currently trading above the 20, 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 in the overbought area, while the price is currently above all three of the 20, 50, and 200-period moving averages.
Our daily resistance levels are at $1,947 and $1,972, with support levels at $1,932 and $1,907.
Conclusion: We won’t have many high-impact data releases from the US this week. There may be some positive sentiment for gold as the market expects that the Fed might hold its interest rates. Our expectation is for gold to trend higher, with an attempt to reach our resistance level at $1,982.
Last week, EURUSD moved lower and fell below our support levels. EURUSD closed the week at 1.0772.
On the weekly timeframe, the Stochastic Indicator is moving lower, entering the oversold area. The price is currently trading around the 50 level but remains 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 crossing back lower in the middle, while the price is moving back 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 low volatility for EURUSD due to the absence of high-impact data releases from both the US and the EU. The current market sentiment is not favourable to the USD, as the market expects the Fed to potentially hold its interest rates during the next meeting. We expect EURUSD to experience a modest upward movement this week, possibly reaching our resistance level at 1.0929.
Last week, the DJ30 moved slightly higher and reached our resistance levels, closing the week at 34,818.
On the weekly timeframe, the Stochastic Indicator is moving lower, aiming for the oversold area, while the price remains 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 observe the stochastic indicator attempting to exit the overbought area, while the price is above the 20, 50, and 200-period moving averages.
Our daily resistance levels are at 34,963 and 35,503, with support levels at 34,415 and 33,890.
Conclusion: The US stock market is expected to undergo a week of low volatility due to the absence of significant data releases in the US. We may observe a slight downward movement in the DJ30, potentially reaching our support level at 34,415.
Last week, USOUSD (Oil) moved higher and managed to break above our resistance levels. The pair closed the week at 86.17.
On the weekly timeframe, we can observe the Stochastic Indicator moving lower and attempting to exit the overbought area. Additionally, the price is currently trading above the 20, 50, and 200-period moving averages.
Our weekly resistance levels are 87.97 and 92.77, with support levels at 83.67 and 79.86.
On the daily timeframe, the Stochastic Indicator is moving higher within the overbought area. Additionally, the price is currently trading above the 20, 50, and 200-period moving averages.
Our daily resistance levels are at 88.62 and 91.00, while support levels are at 84.60 and 82.40.
Conclusion: We anticipate another significant move in USOUSD based on the latest sentiment. There’s potential for a higher movement, with USOUSD possibly reaching our next resistance level at 87.97.
Last week, the NAS100 moved higher and managed to break above our resistance levels. The NAS100 closed the week at a lower level of 14,932.
On the weekly timeframe, the Stochastic Indicator is crossing back higher, just above the oversold area, while the price remains above the 20, 50, and 200-period moving averages.
Our weekly resistance levels are at 15,932 and 16,440, with support levels at 15,153 and 14,658.
On the daily timeframe, the stochastic indicator is situated within the overbought area, while the price is currently above the 20, 50, and 200-period moving averages.
Our daily resistance levels are currently at 15,631 and 15,824, while support levels are at 15,412 and 15,224.
Conclusion: The US stock market is expected to have a week of low volatility due to the lack of significant data releases in the US. We may observe a slight downward movement in the NAS100, potentially reaching our support level at 15,153.
Last week, GBPUSD moved slightly lower and remained within the range of our support and resistance levels. GBPUSD closed the week at 1.2586.
On the weekly timeframe, the Stochastic Indicator is moving lower and entering the oversold area. The price is currently trading above the 50-period moving average but remains 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 higher, positioned in the middle. The price is currently trading below the 20 and 50-period moving averages but remains above the 200-period moving average.
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 anticipate low volatility in GBPUSD as there won’t be many high-impact news releases from both the US and the UK. We expect some upward movement, with the potential for GBPUSD to reach our resistance level at 1.2684.
Last week, the USD Index moved slightly higher and reached our daily resistance level, closing the week at 104.21.
On the weekly timeframe, we can observe the Stochastic Indicator moving higher within the overbought area, while the price is currently trading 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 crossing back higher in the middle, while the price is currently trading above the 20, 50, and 200-period moving averages.
Our daily resistance levels are at 104.34 and 105.14, with support levels at 103.64 and 102.72.
Conclusion: We anticipate a potential downward movement in the USD Index, with the possibility of reaching our support level at 103.64.
Last week, USDJPY moved slightly lower and reached our support level, closing the week at 146.17.
On the weekly timeframe, we can observe the Stochastic Indicator moving within the overbought area, while the price continues to trade 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 positioned in the middle, while the price is currently trading 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 low volatility in USDJPY, the market is closely monitoring for potential interventions by the Bank of Japan in the currency market. We expect the pair to move higher, possibly reaching our resistance level at 146.86.
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