Microsoft rocketed, markets calmed down

Latest news

• Bitcoin is recovering after reaching the one-month low of $28,800. 
• The currencies of Australia and New Zealand may drop as the countries imposed tighter coronavirus restrictions.
• Yesterday, Fed Chair Jerome Powell proved his view that the inflation pressures would be temporary. He claimed that the Fed would start tightening the policy only when employment and inflation reach target levels.
• Oil is edging higher after a report showing another decline in US crude stockpiles.
• Microsoft joined Apple in the $2 trillion dollar club! Yesterday, the stock hit a record high of $265.50 as investors await Microsoft’s Windows 11 event.
• Follow PMI reports from the US, UK, and EU throughout the day. The better-than-expected results will lift the currency, while the worse-than-expected numbers will push it down.

Technical outlook

EUR/USD has bounced off the lower trend line. It has even managed to break the psychological mark of 1.1900 but stopped ahead of the next round number of 1.1950. If it crosses it finally, the way up to the 200-day moving average of 1.2000 will be open. Support levels are Monday’s low of 1.1840 and early April low of 1.1750.

XAU/USD has reversed up from the 61.8% Fibonacci retracement level of $1770. If it manages to break the resistance level of $1800 at the 50% Fibo level and the 100-day MA, gold may surge to $1825. On the flip side, the move below the $1770 support will press the metal down to early April lows of $1735.

XBR/USD (Brent oil) is rallying up. If the bullish momentum sustains, crude oil may reach the psychological mark of $75. Support levels are at the recent lows of $72.00 and $71.00.

TRADE NOW

Kseniia Medik

More by this author

Similar

11.02.2022 17:11 What will move the market on February 14-18?

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!

28.01.2022 15:40 What will move the market on January 31-February 4?

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?

24.12.2021 14:15 First NFP in 2022 Can Rock the Markets

The US will reveal Non-farm payrolls on January 7, Friday, at 15:30 GMT+2 (MetaTrader time).

Latest news

18.05.2022 09:45 What’s New with Australian Unemployment Rate?

The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.

17.05.2022 10:35 Can the UK CPI surprise?

The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.

16.05.2022 11:10 The US Retail Sales Update

The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.