News for The Week
US stock markets started falling, while the US dollar is rising. What to expect from
Strong Bullish movement in XBRUSD, EURUSD and XAUSUSD. What to expect?
Hey-hi, it’s time to buy! Or not? Catch our new digest
Oil prices and RBA decision
XBRUSD isn’t going to stop. The price is rising. The next resistance level is $86.50. Meanwhile Goldman Sachs raised Brent forecast to $95 in 2023 from $90 previously, to $100 in 2024 from $97 previously.
Reserve Bank of Australia decided to hike the rate to 3.60% as the market expected. RBA: ‘further tightening of the monetary policy may be necessary, but right now we need a pause to assess the situation’. AUDUSD dropped by 0.44%. Do you trade ozzie, guys?
ISM Manufacturing PMI in the US. The impact on EURUSD
The US ISM Manufacturing PMI decreased 46.3 points VS 47.5 in the forecast. The activity in production sector is slowing down. GDPNow from Federal Reserve Bank of Atlanta instantly decreased to 1.7%.
EURUSD started growing again. The pair is trying to break 1.0900 level. On a Weekly time frame the trend is still bearish and the strongest resistance level is on 1.1100.
The US JOLTS Job openings for February are expected today at 17:00 GMT+3. Economists expect that the index will decrease compared to the previous month. That’s reasonable, taking into consideration the situation on the labor market (unemployment rate started growing again) and the situation with PMIs.
Bitcoin and Gold review
Bitcoin is still in flat on the Daily time frame. The price fluctuates between 26600 (support level) and 28900 (resistance). 50MA on H1 time frame is heading down. Correction is expected.
Gold keeps rising. The strong resistance cluster is between $2000 and $2010. Will it reach it once more? We think that’s probable.
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