
The United States has one week before default, and NVIDIA may become the next Tesla. What else drives the market?
The US dollar has been dipping for the seventh day in a row, while the euro and the pound edged higher.
EUR/USD has approached the resistance of 1.1890, which it has failed to cross several times. Therefore, we can expect the pullback from it, but it shouldn’t be lower than Wednesday’s low of 1.1855. If it manages to break it, the way to the 50-period moving average of 1.1830 will be clear.
The British pound behaves as the euro’s twin. It has approached the key resistance of 1.3300, which it’s likely to fail to cross. The move below the 50-period moving average of 1.3220 will drive the pair lower to the next support of 1.3165.
XAU/USD has bounced off the support of $1 860. The long tails of the candlesticks below its bodies and higher highs mean that the momentum is bullish. So, we can assume the price can rise until it reaches the resistance of $1 882. If it manages to break it, it may jump to $1 900. Support levels are $1 860 and $1 850.
The Australian dollar is edging higher. Since it bounces off the 61.8% Fibonacci level of 0.7260, the doors towards the next 78.6% Fibo level of 0.7325 are open now. The move above it will drive the aussie to the psychological mark of 0.7400. Support levels are 0.7260 and 0.7225.
Follow Canada’s core retail sales at 15:30 MT time!
The United States has one week before default, and NVIDIA may become the next Tesla. What else drives the market?
Some progress in US debt ceiling talks is made, and the PMI data is out.
When will the US go bankrupt? Will it start the market crash unseen before? We have plenty to share with you, so let’s get started.
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!
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