
Oil prices are rising while the US government is on the verge of shutting down. How will it affect the market?
Fundamentals
EUR/USD keeps rallying up driven by the weak US dollar. If it manages to break above the psychological mark of 1.2150, the way up to 1.2200 will be clear. In the opposite scenario, if it falls below yesterday’s low of 1.2055, it may drop back to the support of 1.2000. Be cautious as the price is more likely to pull back from support levels to the upside rather than break through to the downside.
XAU/USD is approaching the 38.2% Fibonacci retracement level of $1 840. Some selling pressure is expected near this area. If it finally manages to break through it, the doors towards the 50% Fibonacci retracement level of $1 865 will be open. On the flip side, the move below yesterday’s low of $1 810 will drive gold lower to the key psychological mark of $1 800.
EUR/GBP has finally escaped the descending channel it had been trading since September. If it jumps above yesterday’s high of 0.9068, the way up to October’s high of 0.9130 will be clear. In the opposite scenario, if it drops below the 200-period moving average of 0.9000, the way down to Tuesday’s low of 0.8945 will be clear.
WTI oil is edging higher ahead of the OPEC+ meeting, where the crucial decision will be made. The main topic is the oil output cuts. The move above yesterday’s high of $45.65 will drive oil to $46.00. Support levels are $45.00 and $44.65. Follow the OPEC+ decision as it will have a huge impact on oil. If they decide to prolong output cuts, oil prices will surge. Otherwise – drop. To trade WTI oil, you need WTI-21F.
Oil prices are rising while the US government is on the verge of shutting down. How will it affect the market?
US stock markets started falling, while the US dollar is rising. What to expect from
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?
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!
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