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The Euro (EURUSD) advances, hitting another high as the dollar remains on the back foot.
This week’s income and spending data will be another indication of how healthy the U.S economy is. Consumer confidence from Germany could also lift the euro higher, if figures move away from negative territory. All eyes will be on Friday’s Fed ...The AUDUSD charged higher last week, becoming one of the top-performing major currencies and reaching a three-month high. Much of the move could be attributed to dollar weakness after the US Treasury increased its long-term bond repurchases. However, the Aussie’s outperformance is notable. The question is whether the recent high signals a turnaround or whether there is still ...
Gold resumed the rally after the US Treasury announced last week of doubling the amount of purchasing long-term bonds.
As we see over the Intraday chart, the market is facing several supports that can send the metal towards the 4775 level.
A breach of each support could expand the drop towards the next support before advancing back again.
The Dow from a technical perspective remains above the daily uptrend frame to test the support of 52700-800 last week.
As we see from the chart and as long as the market holds above 52640, the advance is likely to move above 55000.
Below 52640 a chance for a further drop could hit the market with support at 51480.
Crude Oil managed to test the downtrend line around 87.60 which has so far managed to hold prices.
As we see from the chart, this downtrend resistance could push for a wider drop towards the 67.00-68.00 zone.
Above 87.60 more advance towards the 93.00-95.00 zone is likely.