The overall market sentiment seems to be cautiously optimistic, with some potential for short-term volatility. The economic data releases later today (US Initial Jobless Claims, US Services PMI, US Manufacturing PMI) could have a significant impact on the markets.
Euro (EUR):
- Forecast: Bullish with a possibility of a bearish correction in the short term.
- Resistance levels: 1.0892, 1.0883
- Support levels: 1.0837, 1.0785
- Trading Tips:
- Buy if the price reaches 1.0855 and target 1.0883.
- Sell if the price rebounds from 1.0892 and target 1.0837, or breaks below 1.0837 and target 1.0785.
British Pound (GBP):
- Forecast: Bullish with a possibility of a bearish correction in the short term.
- Resistance levels: 1.2788-1.2801, 1.2775
- Support levels: 1.2690-1.2705, 1.2682, 1.2611
- Trading Tips:
- Buy if the price reaches 1.2740 and target 1.2775.
- Sell if the price rebounds from 1.2788-1.2801 and target 1.2690-1.2705, or breaks below 1.2690-1.2705 and target 1.2611.
Japanese Yen (JPY):
- Forecast: Bullish with a possibility of a bearish correction in the short term.
- Resistance levels: 157.07, 157.32
- Support levels: 156.33, 156.02
- Trading Tips:
- Buy if the price breaks above 157.07 with a target of 157.32 (if US data is strong)
- Sell if the price breaks below 156.30 (if US data is weak).
New Zealand Dollar (NZD):
- Forecast: Bullish with a possibility of a bearish correction in the short term.
- Resistance levels: 0.6139, 0.6111
- Support levels: 0.6069, 0.6041
- Trading Tips:
- Buy if the price breaks above 0.6111 with caution due to resistance (if retail sales data is strong).
Gold (XAU):
- Forecast: Bearish with a possibility of a short-term bullish correction.
- Resistance levels: 2393, 2402, 2450
- Support levels: 2308, 2319-27
- Trading Tips:
- Consider buying above 2393 if there is a strong technical rebound.
Silver (XAG):
- Forecast: Bearish with a possibility of a short-term bullish correction.
- Resistance levels: 30.76, 31.76, 31.80
- Support levels: 30.10, 29.79, 29.04
- Trading Tips:
- Buy above 30.30
- Sell if the price breaks below 30.10.
Important factors to consider:
- Upcoming economic data releases, particularly US PMI indices, can significantly impact currency markets.
- The overall information background can influence market sentiment and lead to short-term volatility.
- The Federal Reserve minutes indicate a cautious stance on lowering interest rates, impacting the USD and other currencies.
- NFP: Non-Farm Payroll
Categories: Market News
