
Several largest American companies will publish their financial results this week. BTCUSD and XAUUSD are skyrocketing. What's going on in the markets?
EUR/USD surged higher on the positive news on the EU recovery fund and vaccine promising results. It reached the level unseen since January 6, 2019 at 1.1530. However, it has showed some weakness recently. It may meet the support at the key psychological mark at 1.1500. If it falls below that level, it will reach the next support at the low of July 21 at 1.1440.
The S&P 500 surged higher and reached the 3 250 level. It may meet the resistance at 3 325. If it breaks it through, the stock index may increase to the all-time high at 3 390. Support levels are at the low of July 16 at 3 190 and at the 200-day moving average at 3 045.
Gold reached rates unseen since September 1, 2011 at $1 860. These days it tends to rise together with stocks. Support levels are at $ 1 840 and at $ 1 815.
GBP/USD
The risk-sensitive British pound surged but then closed in red. According to the Telegraph, there are no developments in Brexit talks. The breakthrough is only expected at the year-end, when the transition period expires. Let’s look at the daily GBP/USD chart. If the price breaks the high of June 10 and the 78.6% Fibonacci level at 1.2816, it will jump higher to the key psychological mark at 1.300. Otherwise, if it falls below the support at the 200-day moving average at 1.2700, it may plummet even deeper to the next support at 61.8% Fibo level at 1.2520.
Several largest American companies will publish their financial results this week. BTCUSD and XAUUSD are skyrocketing. What's going on in the markets?
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