Current level – 1.0080

For the single European currency, the beginning of the week started rather positively. After the market opening, the rate tries to hold above 1.0088. The bulls’ gains from last week could continue, but for that to happen, they would need to test the second resistance at 1.0197. The bears, on the other hand, will look to steer the pair back towards the support at 0.9985. The downtrend for the euro is probably not over yet, but for now, the positive momentum from the ECB interest rate hike seems to be fueling the rally.


Current level – 142.86

Over the past week, the yen managed to slow the dollar’s record gains against it. The price has managed to hold below the resistance at 143.06 for now, but the corrective phase may be coming to an end if this level is overcome. In case the bears have decided to come back, they would try to test the support at 140.64.


Current level – 1.1610

The beginning of the week started calmly for the currency pair and it managed to hold above the support at 1.1600. We are likely to see a range move and a retracement towards the resistance at 1.1497. A signal that the bulls may return for a longer period in the market would be a breach of the resistance at 1.1711. During the week, there will be important economic data for the pound, which could impact the exchange rate. The most important event is the decision of the Bank of England on the main interest rate on Wednesday at 15:00 EEST.

Midday update for Gold

Gold price shows clear positive trades to test the key resistance 1726.60, which urges caution form the upcoming trading, as breaching this level will lead the price to achieve more rise and open the way to visit 1755.70 areas on the near term basis, while the price needs to hold below the mentioned resistance to keep the negative scenario active, which its next target located at 1690.00.

The expected trading range for today is between 1690.00 support and 1726.00 resistance.

The expected trend for today: Bearish

Source: Technical analysis

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