EUR/USD is trading at 1.07312, 0.27% down since previous day close. The currencies seem to be trading weaker against the strong USD as traders expect aggressive monetary tightening decision in next meeting. Moreover, the worsening Covid-19 situation in China boosts up the USD & suppresses other counterpart. The victory of Macron as a French President for the second time slightly cushioned the EURO. The Belgian NBB Business Climate grew to 2.4 from 0.4 in the previous month. The result of GDP & CPI data will remain in focus for the week. As seen in the chart, the pair EUR/USD is trading near previous lows which acts as a major support level & hence, make or break situation can be seen further. Slight selling bias may be maintained for the day.
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Near Day |
R3 | 1.09707 |
R2 | 1.08555 |
R1 | 1.07839 |
Turnaround | 1.07403 |
S1 | 1.06687 |
S2 | 1.06251 |
S3 | 1.05099 |
Gold is trading at $1902.32, 0.12% up since previous day close. The profit booking can be seen in Gold prices after sliding down below $1900 level in the previous session. The strong USD amid multiple factors like FOMC monetary tightening stance, lowering Oil prices, worsening Covid-19 situation in China & ongoing Russia-Ukraine conflicts led commodities to trade on lower side. Majorly, the lockdown in few of Chinese cities reduced the consumption demand of metals & hence, Gold prices weakened; for China is a top consumer of metals. The result of U.S Consumer Confidence data will remain in focus for the day. Slight selling may be recommended in Gold on daily basis.
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Near Day |
R3 | 1989.76000 |
R2 | 1948.33000 |
R1 | 1924.12000 |
Turnaround | 1907.90000 |
S1 | 1883.19000 |
S2 | 1866.97000 |
S3 | 1826.04000 |
US30 is trading at 34793, 0.08% up since previous day close. The slight upside can be seen in U.S markets; paring up losses seen earlier in a session. The US30 seem to be trading on lower side after FOMC Chair Jerome Powell showed aggressive stance over rate hike in the near future. Globally, ongoing negotiations between Russia & Ukraine & worsening Covid-19 situation in China will remain vital for indices. The result of Core Durable Goods Orders & Consumer Confidence data will be closely watched today. As seen in the chart, the US30 reversed upside after forming double bottom which acts as a major support level. Also, the US30 crosses MA (10) & MA (20) which signals for buying bias on lower levels on an intraday basis.
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Near Day |
R3 | 35306.00000 |
R2 | 34518.00000 |
R1 | 34228.00000 |
Turnaround | 33730.00000 |
S1 | 33440.00000 |
S2 | 32942.00000 |
S3 | 32154.00000 |
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