
Russian-Ukrainian conflict is influencing every economic aspect…
After the RBA statement, the Australian dollar reversed from the resistance at 0.6990 and slumped. It will meet the next support at 0.6935. If it breaks it down, it may fall deeper to the 50-day moving average at 0.6910. Resistance levels are at 0.6990 and 0.7015.
Let’s move on to gold. It caught the overall risk-off mood and gained on it. XAU/USD has just crossed the strong resistance at $1 780. It basically means it may reach soon $1 800 – the level that analysts widely expect. Support levels will be at $1 770 and $1 760.
EUR/USD has just bounced back from the strong resistance at 1.330, that it has touched already once. Thus, it has formed a double top pattern, which is an extremely bearish signal. It will meet soon the support at 1.1300. If it manages to cross it, it will open doors towards the next support at the low of July 2 at 1.1265.
Finally, let’s have a look what’s happening with the S&P 500. It has been trading in a range between 3 000 and 3 225 for over a month. However, this range is narrowing, and we could easily draw a triangle. The stock index may fall to the support at 3 110 today. If it breaks it down, it may fall even deeper to the 200-day moving average at 3 025 and continue its zig-zag movement.
Russian-Ukrainian conflict is influencing every economic aspect…
Last week was full of surprises! The US dollar plunged despite a better-than-expected retail sales report…
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 US Markit will publish Flash Manufacturing and Flash Services PMIs (purchasing managers' indices) on June 23 at 16:45 GMT+3.
The Fed Chair Jerome Powell will testify on the Semi-Annual Monetary Policy Report before the House Financial Services Committee on June 22-23 at 17:00 GMT+3.
Canada will publish Retail Sales and Core Retail Sales on June 21 at 15:30 GMT+3.
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