
Last week was full of surprises! The US dollar plunged despite a better-than-expected retail sales report…
The US dollar gained after the Fed’s report, while riskier assets dropped. Let’s have a closer look.
EUR/USD has broken down the lower trendline, which has been strong support since the middle of May. However, the further falling was constrained by the low level of September 9 at 1.1755. The move above the 200-period moving average at 1.1835 will drive the price to the key psychological mark of 1.1900. Support levels are 1.1755 and 1.1700.
USD/JPY is aggressively streaming down. If it manages to cross the low of July 30 at 104.70, it will open doors towards the next support of 104.30. In the opposite scenario, the move above the high of the recent low of 105.10 will push the price higher to the next resistance of 105.50.
The S&P 500 has sharply plummeted amid the risk-off mood. If it drops below the low of September 11 at 3 330, the doors towards the next support of 3 315 will be open. On the flip side, if the market mood changes, the jump above the resistance of 3 370 will drive the price towards the high of September 16 at 3 420.
Finally, let’s discuss gold. It has failed to stabilize above the $1 970 level and slumped to $1 940. The move below this support will clear the way towards the strong support of $1 925, which it hasn’t been able to break a few times. Otherwise, if it surges above the recent high of $1 970, it will jump to the next resistance of $1 990.
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 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 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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