Spreads
Spreads
Spreads
Spreads
Spreads
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Last week, gold fell and broke below our support levels. Gold closed the week at $1,831.
On the weekly timeframe, we can observe that the Stochastic Indicator is in the middle. 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 $1,849 and $1,899, with support levels at $1,807 and $1,767.
On the daily timeframe, the Stochastic Indicator is 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 $1,843 and $1,858, with support levels at $1,821 and $1,803.
Conclusion: This week, we will have some high-impact news releases from the US, with the focus on US inflation data in CPI and PPI. 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 that gold will move higher, with an attempt to reach our resistance level at $1,849.
Last week, EURUSD moved lower and was able to return within the range of our support and resistance levels. EURUSD closed the week at 1.0583.
On the weekly timeframe, the Stochastic Indicator is within the oversold area, and 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 after exiting 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: We anticipate high volatility for EURUSD this week due to the high-impact news on US inflation data. We expect EURUSD to experience a slight upward movement and potentially reach above our resistance level at 1.0632.
Last week, the DJ30 moved lower and managed to drop below our support levels. The DJ30 closed the week at 33,420.
On the weekly timeframe, we can 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 still 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 flat just above 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 a week of heightened volatility in the US stock market, driven by significant developments in US inflation data. Given the market’s ongoing assessment of the Fed’s hawkish stance from the previous week, we foresee the possibility of DJ30 moving downwards, potentially targeting our support level at 33,295.
Last week, USOUSD (Oil) fell and successfully broke below our support levels. The pair closed the week at 82.97.
On the weekly timeframe, we can observe that the Stochastic Indicator is currently attempting to exit the overbought area. The price is trading above the 20-period, 50-period, and 200-period moving averages.
Our weekly resistance levels are 85.65 and 92.77, with support levels at 80.19 and 74.89.
On the daily timeframe, the Stochastic Indicator is entering the oversold area. The price is currently trading above the 20-period moving average but below the 50-period and 200-period moving averages.
Our daily resistance levels are at 85.16 and 87.98, while support levels are at 81.16 and 78.86.
Conclusion: We anticipate another significant move in USOUSD based on the latest sentiment surrounding it, with the possibility of a downward movement that could potentially take USOUSD to our support level at 81.16.
NAS100 moved higher and reached our daily resistance level last week. However, the index closed the week lower at 15,001.
On the weekly timeframe, we can observe that the Stochastic Indicator is currently moving lower in the middle, aiming for the oversold area. The price is currently trading above the 20, 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, aiming for the overbought area. The price is currently trading at the 50-period moving average and is above both the 20 and 200-period moving averages.
Our daily resistance levels are currently at 15,060 and 15,298, while support levels are at 14,880 and 14,548.
Conclusion: We foresee a week of heightened volatility in the US stock market, driven by significant updates on US inflation data. Considering the ongoing influence of last week’s hawkish stance by the Fed, we anticipate a potential downward movement for NAS100, with a targeted level at our support of 14,880.
Last week, GBPUSD moved slightly higher after falling below our support levels. The pair closed the week at 1.2236.
On the weekly timeframe, we can observe that the Stochastic Indicator is currently in 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 moving higher within the middle range, 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 high volatility in GBPUSD due to high-impact news related to US inflation data and UK GDP. Our expectation is for GBPUSD to continue its upward movement, with the potential to surpass our resistance level at 1.2311.
Last week, the USD Index traded flat after reaching our resistance levels. The USD Index closed the week at 105.82.
On the weekly timeframe, we can observe that the Stochastic Indicator is currently in the overbought area. The price is trading above the 20-period, 50-period, 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 moving lower after exiting the overbought area, while 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 expect the USD Index to undergo increased volatility, primarily driven by high-impact events in the US, including the release of US inflation data (CPI and PPI) and the FOMC Meeting Minutes from the most recent Federal Reserve meeting. Our anticipation is for a modest correction in the USD Index, potentially reaching our support level at 105.33.
Last week, USDJPY traded flat after reaching our resistance levels, ultimately closing the week at 149.20.
On the weekly timeframe, it’s evident that the Stochastic Indicator is currently situated within the overbought area. 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 currently moving lower, positioned just below the overbought area. The price continues to trade above the 20, 50, 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 heightened volatility for USDJPY due to significant data releases from the US. Additionally, the market is closely monitoring the potential intervention by the Bank of Japan in the currency market. Our expectation is for the pair to experience a slight downward movement, with the possibility of reaching our support level at 147.85.
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