Spreads
Spreads
Spreads
Spreads
Spreads
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Last week, gold fell and broke below our support levels. Gold closed the week at $1,848.
On the weekly timeframe, we can observe that the Stochastic Indicator is in the middle range. The gold price is trading below the 20 and 50-period moving averages but is still above the 200-period moving average.
Our weekly resistance levels are at $1,874 and $1,941, with support levels at $1,842 and $1,807.
On the daily timeframe, the Stochastic Indicator is moving lower within the oversold area, while the price is currently trading below the 20, 50, and 200-period moving averages.
Our daily resistance levels are at $1,858 and $1,874, with support levels at $1,830 and $1,809.
Conclusion: This week, we expect some high-impact news releases from the US, with a particular focus on the US Jobs Report. There is a possibility of a positive sentiment for gold, as the market remains attentive to the Fed’s decision to maintain its interest rates. Our expectation is that gold will move higher, with an attempt to reach our resistance level at $1,874.
Last week, EURUSD moved lower and was able to break below our support levels. EURUSD closed the week at 1.0572.
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 1.0641 and 1.0786, with support levels at 1.0515 and 1.0361.
On the daily timeframe, the Stochastic Indicator is moving higher, attempting to exit 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 1.0632 and 1.0735, while the support levels are at 1.0520 and 1.0440.
Conclusion: This week, we anticipate high volatility for EURUSD due to the US Jobs Report. We expect EURUSD to experience a slight upward movement, potentially reaching above our resistance level at 1.0632.
Last week, the DJ30 moved lower and successfully broke below our support levels. The DJ30 closed the week at 33,519.
On the weekly timeframe, we observe that the Stochastic Indicator is moving lower and approaching the oversold area. The price is currently below the 20 and 50-period moving averages but remains above the 200-period moving average.
Our weekly resistance levels are at 34,159 and 34,957, with support levels at 33,320 and 32,685.
On the daily timeframe, we can see that the Stochastic Indicator is moving higher after exiting the oversold area. The price is currently trading below the 20, 50, and 200-period moving averages.
Our daily resistance levels are 33,881 and 34,313, with support levels at 33,295 and 32,821.
Conclusion: We anticipate that the DJ30 may move lower as the market continues to react to the Fed’s hawkish tone from last week, with a potential target at our support level of 33,295.
Last week, USOUSD (Oil) remained relatively stable but successfully reached our resistance level. The pair closed the week at 91.08.
On the weekly timeframe, we can see that the Stochastic Indicator is currently situated within the overbought area. Additionally, 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 moving lower from the middle range, while 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 a downward movement, with USOUSD potentially reaching our support level at 89.15.
Last week, the NAS100 moved lower and reached our support level, closing the week at a lower level of 14,743.
On the weekly timeframe, we can observe that the Stochastic Indicator is currently descending from the middle range. The price is currently at the 20-period moving average but still 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 higher after exiting the oversold area. The price is currently trading below the 20-period 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: We anticipate NAS100 to move lower as the market continues to react to 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 broke below our support levels. GBPUSD closed the week at 1.2202.
On the weekly timeframe, we can observe that the Stochastic Indicator is currently situated within the oversold area. Additionally, 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 currently 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: We expect GBPUSD to continue moving lower as market sentiment remains unfavourable for GBP, with the potential for GBPUSD to reach below our support level at 1.2172.
Last week, the USD Index traded higher and successfully broke through our resistance levels, closing the week at 105.84.
On the weekly timeframe, we can see that the Stochastic Indicator is currently situated within the overbought area. Additionally, the price is trading above the 20, 50, and 200-period moving averages.
Our weekly resistance levels are 106.84 and 107.98, with support levels at 104.57 and 103.23.
On the daily timeframe, the Stochastic Indicator is making an attempt to cross lower and exit the overbought area. The price is currently trading above the 20, 50, and 200-period moving averages.
Our daily resistance levels are 106.79 and 108.01, with support levels at 105.33 and 104.29.
Conclusion: This week, we anticipate high volatility in the USD Index due to high-impact news events in the US, including the US Jobs Report and the release of both Manufacturing and Services PMI. We expect the USD Index to undergo a slight correction and potentially reach our support level at 105.33.
Last week, USDJPY traded higher and successfully broke above our resistance level, closing the week at 149.35.
On the weekly timeframe, we can observe that the Stochastic Indicator is currently situated within the overbought area. Additionally, the price is trading above the 20-period, 50-period, and 200-period moving averages.
Our weekly resistance levels are 149.73 and 151.89, with support levels at 147.14 and 144.61.
On the daily timeframe, the Stochastic Indicator is moving within the overbought area, while the price continues to trade above the 20-period, 50-period, and 200-period moving averages.
Our daily resistance levels are currently at 150.29 and 151.96, while the support levels are at 147.85 and 146.67.
Conclusion: We anticipate a week of high volatility for USDJPY due to high-impact data releases from the US. Additionally, 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 slightly lower, with the potential to reach our support level at 147.85.
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