Spreads
Spreads
Spreads
Spreads
Spreads
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Last week, gold remained flat and oscillated between our support and resistance levels. Gold closed the week at $1,925.
On the weekly timeframe, we can observe that the Stochastic Indicator is ascending in the middle. The gold price is trading below the 20-period moving average and 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 lower after exiting the overbought area, while the price is currently trading below the 50-period moving average but above the 20- and 200-period moving averages.
Our daily resistance levels are at $1,926 and $1,947, with support levels at $1,907 and $1,884.
Conclusion: This week, we won’t have many high-impact news releases from the US. We could see a positive sentiment for gold, as the market is still focused on the Fed’s decision to maintain its interest rates. Our expectation is for gold to move higher, with an attempt to reach our resistance level at $1,941.
Last week, EURUSD remained flat and managed to reach our support levels. EURUSD closed the week at 1.0645.
On the weekly timeframe, the Stochastic Indicator is within the oversold area. The price is trading below the 20-period, 50-period, 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 lower, remaining in the oversold area, while the price is trading below the 20-period, 50-period, and 200-period moving averages.
Our daily resistance levels are at 1.0763 and 1.0861, while the support levels are at 1.0633 and 1.0520.
Conclusion: This week, we anticipate low volatility for EURUSD due to the absence of high-impact data releases. The current market sentiment does not favour the EUR, and we may see further downward movement as the Fed’s hawkish tone remains the prevailing sentiment. We expect EURUSD to experience another downward movement and potentially reach below our support level at 1.0633.
Last week, the DJ30 moved lower and managed to break below our support levels. The DJ30 closed the week at 33,980.
On the weekly timeframe, we can observe that the Stochastic Indicator is moving lower and aiming for the oversold area. The price is currently below the 20-period moving average but still above the 50 and 200-period moving averages.
Our weekly resistance levels are at 34,653 and 35,502, with support levels at 33,503 and 32,809.
On the daily timeframe, we can see that the Stochastic Indicator is moving lower, aiming for the oversold area. 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 34,474 and 34,969, with support levels at 33,727 and 33,295.
Conclusion: The US stock market is expected to experience low volatility this week due to the absence of high-impact US news. We anticipate the DJ30 may move lower as the market continues to factor in the Fed’s hawkish tone from last week, with a potential target at our support level of 33,727.
Last week, USOUSD (Oil) remained relatively flat but managed to reach our resistance level. The pair closed the week at 90.79.
On the weekly timeframe, we can observe that the Stochastic Indicator is currently within the overbought area. The price is trading above the 20-period, 50-period, and 200-period moving averages.
Our weekly resistance levels are 92.77 and 97.57, with support levels at 87.31 and 83.67.
On the daily timeframe, the Stochastic Indicator is descending from the middle range. The price is currently trading above the 20-period, 50-period, and 200-period moving averages.
Our daily resistance levels are at 92.22 and 95.51, while support levels are at 89.15 and 85.88.
Conclusion: We anticipate another significant movement in USOUSD based on the latest sentiment surrounding it. There is a possibility of an upward movement, with USOUSD potentially reaching our next resistance level at 92.22.
Last week, the NAS100 moved lower and reached our support level. The NAS100 closed the week at a lower level of 14,707.
On the weekly timeframe, we can see that the Stochastic Indicator is currently crossing lower from the middle range. The price is currently at the 20-period moving average but remains above the 50 and 200-period moving averages.
Our weekly resistance levels are 15,153 and 15,932, with support levels at 14,658 and 13,717.
On the daily timeframe, the Stochastic Indicator is moving lower, entering the oversold area. 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 currently at 14,956 and 15,298, while support levels are at 14,548 and 14,246.
Conclusion: The US stock market is expected to experience a week of low volatility due to the absence of high-impact US news. We anticipate that NAS100 may move lower as the market continues to weigh on the Fed’s hawkish tone from last week, with a potential target at our support level of 14,548.
Last week, GBPUSD moved lower and breached our support levels. GBPUSD closed the week at 1.2235.
On the weekly timeframe, the Stochastic Indicator is currently within the oversold area. The price is trading below the 20-period, 50-period, and 200-period moving averages.
Our weekly resistance levels are at 1.2450 and 1.2825, while support levels are at 1.2172 and 1.1828.
On the daily timeframe, our Stochastic Indicator is situated within the oversold area, while the price is trading below the 20-period, 50-period, and 200-period moving averages.
Our daily resistance levels are now at 1.2311 and 1.2407, while support levels are at 1.2184 and 1.2080.
Conclusion: This week, we anticipate low volatility in GBPUSD due to the absence of high-impact news. We expect GBPUSD to continue moving lower as market sentiment remains unfavourable for GBP, with the potential for GBPUSD to reach our support level at 1.2184.
Last week, the USD Index traded higher and successfully breached our resistance levels. The USD Index closed the week at 105.26.
On the weekly timeframe, we can observe that the Stochastic Indicator is currently within the overbought area. The price is trading above the 20, 50, and 200-period moving averages.
Our weekly resistance levels are 105.55 and 107.98, with support levels at 103.23 and 100.39.
On the daily timeframe, the Stochastic Indicator is attempting to cross back higher within the middle range. The price is currently trading above the 20, 50, and 200-period moving averages.
Our daily resistance levels are 105.41 and 106.79, with support levels at 104.29 and 103.01.
Conclusion: This week, we anticipate low volatility in the USD Index due to the absence of high-impact US news. We expect the USD Index to potentially continue its upward movement and reach our next resistance level at 105.55.
Last week, USDJPY traded higher but remained within the range defined by our support and resistance levels. USDJPY closed the week at 148.34.
On the weekly timeframe, we can see that the Stochastic Indicator is currently within the overbought area. The price is trading above the 20-period, 50-period, and 200-period moving averages.
Our weekly resistance levels are 148.76 and 151.89, with support levels at 144.61 and 141.78.
On the daily timeframe, the Stochastic Indicator is moving lower, approaching the edge of the overbought area. The price continues to trade above the 20, 50, and 200-period moving averages.
Our daily resistance levels are currently at 149.01 and 150.29, while the support levels are at 146.67 and 145.10.
Conclusion: We expect a week of low volatility for USDJPY since there isn’t much high-impact data scheduled for the week. Additionally, the market remains watchful for any potential intervention by the Bank of Japan in the currency market. We anticipate the pair to move higher, as market sentiment still favours the USD, potentially reaching our resistance level at 148.76.
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