
Last week was full of surprises! The US dollar plunged despite a better-than-expected retail sales report…
EUR/USD is trading in an ascending channel. If it jumps above the high of December 22 at 1.2240, the way up towards the high of December 17 at 1.2270 will be clear. On the flip side, if the pair drops below the lower trendline of 1.2175, it may fall to the next support of 1.2150.
The British pound is edging higher on hopes for a soon Brexit agreement. The way up to the high of December 17 of 1.3610 is clear now. If it manages to break it, the next barrier will be at 1.3700. In the opposite scenario, the move below the support zone of 1.3460-1.3435 will drive the pair to the 200-period moving average of 1.3350.
XAU/USD is trading in a descending channel in the long term, but in an ascending one in the short-term. The price is supported by the 50-period moving average from the downside. The doors are open towards the high of December 17 at $1 890. The breakout of this level will drive gold to $1 900. Support levels are at the recent lows of $1 860 and $1 850.
EUR/GBP has approached the key support at the 200-period moving average of 0.9000. It’s unlikely to cross it by the first attempt as the pair has failed to break it several times this month. Therefore, the pullback to the upside is expected. If EUR/GBP finally crosses this level, the way down to the low of December 1 at 0.895 will be clear. Once the Brexit agreement is announced, the GBP should skyrocket and EUR/GBP should drop.
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 Institute for Supply Management will release ISM manufacturing PMI on July 1, 17:00 GMT+3.
The United States Bureau of Economic Analysis will release monthly Personal Consumption Expenditures (PCE) on June 30, 15:30 GMT+3.
The governor of the Bank of England, Andrew Bailey, will hold a speech on June 29 at 15:30 MT time (GMT+3).
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