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EUR/USD Steady Above 1.0800 Pre-Powell; Gold Firm at $2,350; Dow Slips Ahead of Bank Earnings.

By Research Team Tuesday, Jul 9, 2024
EUR/USD

    • 11.30amD1
    • High1.0833
    • Low1.0815
    • Close1.0821

EUR/USD is trading at 1.0818, 0.05% down since previous day close. Small increases above 1.0800 are being reported by EUR/USD during Tuesday’s early European session. Despite the initial surprise caused by the outcome of the French election, EUR/USD is still rising. The US Congress will hear “The Semi-annual Monetary Policy Report” on Tuesday. The bearish spinning top that the previous day’s candle suggests that the trend may change. 1.0845 will be the nearest resistance, and 1.0813 will be the support.

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Daily Outlook

EUR/USD

Intra Day
Near Day

Technical Levels

R3 1.0945
R2 1.0901
R1 1.0845
Turnaround 1.0823
S1 1.0813
S2 1.0800
S3 1.0784
By Research Team Tuesday, Jul 9, 2024
US30

    • 11.35amD1
    • High39417.00
    • Low39340.00
    • Close39394.00

US30 is trading at 39388, 0.08 % up since the previous day’s close. The trading week began with a 31-point decline in the Dow Jones Industrial Average. The story may alter, though, when a number of massive banks are set to release their second-quarter earnings reports. The most promising names on Wall Street are opening as usual for the upcoming earnings season. Today’s market outlook is optimistic. The closest support would be 39301, while the closest resistance would be 39721. If it breaks, it would reach 40109.

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Daily Outlook

US30

Intra Day
Near Day

Technical Levels

R3 40302.00
R2 40109.00
R1 39721.00
Turnaround 39314.00
S1 39301.00
S2 39030.00
S3 38917.00
By Research Team Tuesday, Jul 9, 2024
GOLD

    • 11.40amD1
    • High2368.00
    • Low2358.00
    • Close2363.00

XAUUSD is trading at 2360, 0.03% up since previous day close. In the early European session of Tuesday, the price of gold rises. Increasing rates reduce expectations, and flows into safe havens may limit the decline in precious metal prices. The short-term impact of China’s PBoC gold purchases being paused would probably be felt by XAU/USD. The market appears bearish right now. In the event of a bearish event, the initial downside target is 2349, and the resistance is 2392 when the market moves upward.

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Daily Outlook

GOLD

Intra Day
Near Day

Technical Levels

R3 2450.00
R2 2426.00
R1 2395.00
Turnaround 2367.00
S1 2349.00
S2 2326.00
S3 2295.00
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