
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
EUR/USD dropped enormously! The pair has just broken below the psychological mark of 1.2000 and the 200-day moving average. Now it is getting closer to the lower trend line at 1.1950, which the pair may struggle to break. The RSI indicator is below 30,00 on the 4-hour chart, signaling the pair is oversold. Thus, we might expect the reverse up soon. The move above 1.2000 will drive EUR/USD back to 1.2050.
It’s quite an interesting situation on the gold chart! XAU/USD has broken the 61.8% Fibonacci retracement level and pulled back to it. The long upper shadow tells us that the price is going to reverse down. The move below the 50.0% Fibo level of $1800 will push the metal to the next level at $1770.
S&P 500 has reversed down and touched the lower trend line at 4175. It’s a perfect opportunity to buy such a credible stock index at a lower price! The move above Tuesday’s high of 4260 will drive the stock index to the psychological mark of 4300. Support levels are at the 50-day moving average of 4175 and the mid-May lows of 4115.
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
Credit Suisse's collapse is in focus. What are the consequences of this problem? Let's discuss it here.
Consumer Price Index, Existing Home Sales, US Fed rate decision - all of these things we will discuss in our new review. Don't miss it out!
The RBA and the Bank of Canada will add volatility to the AUD and the CAD, while USD is expected to be boosted by the Non-farm payrolls.
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