Market Updates

EUR/USD

After testing the support at the 1.1805-1.1795 price level the EURUSD pair has recently broken below this level currently trading around 1.1768, after breaking the resistance at this level we may see the pair moving towards the next level of support is around the 1.1705 -1.1700 price level. The next level of resistance currently is in the 1.1880-1.1900 range. The focus for this week will be primarily on the high impact economic news announcements, with Thursday’s ECB monetary policy statement and Interest rate decision, the EUR/USD pair as well as all other EUR pair may see some short-term high volatility, depending on the outcome.

Key Economic Data

 

Below is the high impact news for this week, do not allow yourself to be caught out by high impact forex news.

 

Daily Currency Heatmap

 

 

Gold is currently trading around the $1800 price level, since our last look at gold it tested the $1824 resistance as expected, temporarily moving above this level to reach a high of $1834 before retreating to the $1815-$1795 range. The Pivot Point for the current week is at $1812. The $1800 level still serves as a psychological support level. The key level of resistance is the $1824 level a break of this level may see gold rise to the $1850 - $1862 range. Our strong support is still in the $1750-$1747 area. Will we revisit the $1750 level before the precious metal continues to move higher?

*Source Investing.com Calculator

In the above table we can see the continuation of the decline in the gold volatility against the US dollar, since the last peak in volatility on the 23rd of June.

Stocks to Watch

Earnings: Below are the stocks to monitor for the rest of the week will announce their earnings.

 

Dividends: The following stocks will be paying dividends over this week.

 

Market Holidays

Holidays: The following countries have national holidays this week.

Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information presented here.