By Areena FxDive into this week’s analysis of major currency pairs, equities, and commodities. Find out the trend directions, potential corrections, and key levels to watch.
EUR/USD (Euro vs. US Dollar)
The Euro has seen a drop, settling at 1.0575 against the US Dollar. Expectations hint at a slight upward movement, possibly touching 1.0616 before retracting to the vicinity of 1.0550, a crucial target.
GBP/USD (Great Britain Pound vs. US Dollar)
The GBP took a dip to 1.2194 against the USD. Watch out for a potential rise up to 1.2248, followed by a drop aiming for the 1.2000 mark.
USD/JPY (US Dollar vs. Japanese Yen)
The USD experienced a surge against the Yen, peaking at 148.95. Forecasts suggest it might push further to 149.05 before a possible retraction to 148.14. However, keep an eye on a potential upward trajectory hitting 149.94.
USD/CHF (US Dollar vs. Swiss Franc)
With an uptrend reaching 0.9133 against the Swiss Franc, the USD might experience a pullback to 0.9088 or continue its climb to 0.9184.
AUD/USD (Australian Dollar vs. US Dollar)
The Aussie dollar is on a descent against the USD, targeting 0.6393. A brief upward movement to 0.6428 might occur, but the bearish trend may persist, aiming for 0.6276.
Brent Crude Oil
Brent oil prices are hovering around 91.91, with a potential drop to 89.40. However, an upward swing could carry prices to a local target of 97.07.
XAU/USD (Gold vs. US Dollar)
Gold prices took a hit, declining to 1911.11. Expect a slight recovery to 1919.60, but the trend might drag prices to the vicinity of 1894.77.
S&P 500 Index
This leading index slid down to 4298.8. Speculations suggest a potential rebound to 4347.0, but a downward trajectory targeting 4230.3 and potentially 4172.0 might be in the cards.
Stay updated with market movements, and ensure your strategies adapt to these forecasted trends. Keep monitoring these key levels for potential opportunities and shifts in the market dynamics.