
Last week was full of surprises! The US dollar plunged despite a better-than-expected retail sales report…
EUR/USD is sharply falling. It gets closer to the psychological mark of 1.1700. It may struggle to cross it on the first try as it has failed to break it in March. However, if it manages to break it, it will drop the November lows of 1.1600 – just above the 200-week moving average. The 200-week MA may stop the pair from further falling. Resistance levels are the psychological mark of 1.1800 and the high of August 4 at 1.1900.
Gold has reversed up from the $1730 support level which lies at the 100-week moving average. The jump above the high of late June at $1780 will push the pair to the 100-day moving average of $1800. On the flip side, the move below $1730 will press down to the recent low of $1680.
Our forecast was right and USD/JPY is edging higher to the psychological mark of 111.00. The breakout above it will push the pair up to the high of July 2 at 111.50. However, we should be ready for a pullback from 111.00 at first. Support levels are 110.50 and the 50-day moving average of 110.00.
Last week was full of surprises! The US dollar plunged despite a better-than-expected retail sales report…
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!
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?
The US Bureau of Labor Statistics will announce average hourly earnings, nonfarm employment change (NFP), and the unemployment rate on July 8, at 15:30 MT time.
The Federal Open Market Committee, a committee within the Federal Reserve, will reveal a detailed record of the central bank’s last meeting on July 6 at 21:00 MT.
The Reserve Bank of Australia will announce its cash rate and make a statement about future rate policy on Tuesday, July 5, at 07:30 MT.
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