
It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.
The most traded pair dropped enormously yesterday, but the 50-period moving average stopped it from further falling one more time. If the pair tumbles below the psychological mark of 1.2200, the way down to the 50-MA at 1.2180 will be open. However, the pair shouldn’t cross this strong support as it has failed to do it so far, that’s why we can expect the pullback to the upside. Resistance levels are 1.2240 and 1.2270.
GBP/USD is still trading in a descending channel despite all the headwinds. Now it’s trading sideways near the key psychological mark of 1.3400. If it jumps above yesterday’s high of 1.3450, the way up to the next resistance of 1.3500 will be open. In the opposite scenario, if it drops below the 200-hour moving average of 1.3300, it may drop to the next support of 1.3200.
XAU/USD is moving in a descending channel. It touched the intersection of the top of its range and the 100-period MA near $1 915, therefore the way up was closed, and the price went down. If it breaks through yesterday’s low of $1 860, it may fall to the low of December 14 at $1 825. Resistance levels are $1 890 and $1 915.
Oil dropped after the new virus variant had been found in the UK. It has approached the key support of $46.50. It’s unlikely to break this level by the first attempt as it has failed to cross this level several times this month already. Besides, the 100-period MA lays at the same level, which should limit the further falling as well. If it manages to break it, the doors will be open to the low levels of early December at $45.50. To trade WTI oil with FBS, you need WTI-21G, which expires on January 19.
It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.
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