How Energy Crisis Affects German PMI August 23, 2022, 10:30 GMT+3 Germany will publish Flash Manufacturing PMI data on Tuesday, August 23, at 10:30 MT time (GMT+3)…
Market updates on November 18
- The EURUSD is likely to continue the upward trend taken on Thursday last week, with regular bearish downslopes on the way. On the H1 chart of EURUSD, a local drop is currently taking place. The RSI has recently crossed the 70% upside-down. Therefore, the bears will be guiding the price for some time. The support levels they will be looking at may be located at 1.1044, 1.1016 and 1.0998. While the general uptrend may have 1.1063 and 1.1076 as resistance levels.
- The GBP is also showing a gradual rise against the USD. On the H4 chart of GBPUSD, the uptrend has started last Thursday and is currently on the way. A 3-weeks high of 1.2961 and a 4-weeks high of 1.2992 are the limits from the resistance side for the upward movement. However, it may soon revert to the downward trend as the RSI is currently in the oversold zone. The bearish direction in this scenario may have the support levels located at 1.2900, 1.2874 and 1.2828.
- The USDJPY pair is in a local decision-making moment. On the H4 chart, it is testing the resistance level of 108.85 – the level it dropped from last Wednesday. If it is broken, the bulls will likely rule the market, with 109.09 and 109.21 checking the uptrend. Otherwise, the low of 108.33 may be marked as the support level.
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?
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.