
XAUUSD fell below 1900 for the first time since March 2023. Meanwhile, the US dollar index gives a bearish signal. Read the full report to learn more!
The market sentiment is positive at the start of the week despite constantly rising virus cases all over the world. A few US states imposed curfews, while Europe was forced to introduce lockdown measures. Donald Trump announced that Covid-19 vaccines would be distributed eventually, but it was taken as a political movement. Anyway, it is a tug-of-war between vaccine and virus concerns. Elsewhere, investors will closely follow the further development of the unclear US election. Stocks and riskier currencies are rising, while the US dollar is dipping.
EUR/USD has approached the level of October highs at 1.1860. If the pair manages to cross it, the way to the key psychological mark of 1.1900 will be clear. Most analysts have mildly bullish forecasts. Nevertheless, if EUR/USD dropped below the key level of 1.1800, the doors towards the 50-day moving average of 1.1770 will be open.
XAU/USD has bounced off the key psychological mark of $1 900. It’s located near the 23.6% Fibonacci retracement level, making this resistance harder to cross. Elsewhere, the 50-day moving average has crossed the 100-day moving average upside down, signaling further falling. Next support levels will be at $1 860 and $1 850. In the opposite scenario, if it manages to break it through, the way towards the $1 912 and then to $1 925 will be open.
The S&P 500 has broken through the psychological level of 3 600. The way up to the all-time high of the last week at 3 665 is clear. On the flip side, the move below the low of October 12 at 3 540 will drive the stock index lower to 3 500.
There are some interesting movements on the AUD/USD chart. The aussie has crossed the 61.8% Fibonacci retracement level of 0.7260. That’s why the pair has chances to reach the next Fibo level of 0.7325 and then the high of September 1 of 0.7380. Support levels are 0.7260 and 0.7210.
XAUUSD fell below 1900 for the first time since March 2023. Meanwhile, the US dollar index gives a bearish signal. Read the full report to learn more!
Oil prices are rising while the US government is on the verge of shutting down. How will it affect the market?
Mester (Fed) says the Fed will have to raise rates again this year. However, the US dollar index shows signs of a short-term decline. Read the full article and learn more!
Welcome to the first week of October! As usual, at the start of the week, we are looking for valuable insights that will bring us profits in trading. Let’s observe the main events.
Inflation in Europe was released better than the forecast. The preliminary fact was published at 4.3%. What's happening in the markets?
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