
Russian-Ukrainian conflict is influencing every economic aspect…
EUR/USD bounced off the lower trend line and started moving up. However, its growth was stopped by the 200-period moving average of 1.2100. It may drop again to Monday’s low of 1.2035. If it crosses this low, the way down to the key psychological mark of 1.2000 will be clear. Resistance levels are 1.2100 and 1.2150.
The 100-period moving average of 1.3940 constrained GBP/USD from further falling. But if it manages to break it, the way down to the next support of 1.3900 will be open. On the flip side, the move above Monday’s high of 1.4000 will push the price up to the next round number of 1.4050.
In the long term, GBP/USD has been trading in an increasing expanding triangle pattern. Since it’s in the lower part of this triangle, we should expect the price to start rising soon.
USD/JPY has been trading in a descending channel. However, the rally should stop soon as two indicators point to the soon reverse down. Firstly, the pair has almost touched the upper trend line. Secondly, the RSI indicator has almost crossed the 70.00 level, signaling the overbought zone. Therefore, we might expect the pullback down. Support levels are 106.50 and 106.00.
Follow US ADP at 15:15 MT time, ISM Services PMI at 17:00 MT time, and Crude Oil Inventories at 17:30 MT time!
Russian-Ukrainian conflict is influencing every economic aspect…
Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
The volatility that the markets experienced last week promises the second tidal wave! What should your favorite assets anticipate during the first week of February?
The US Institute for Supply Management will release ISM manufacturing PMI on July 1, 17:00 GMT+3.
The United States Bureau of Economic Analysis will release monthly Personal Consumption Expenditures (PCE) on June 30, 15:30 GMT+3.
The governor of the Bank of England, Andrew Bailey, will hold a speech on June 29 at 15:30 MT time (GMT+3).
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