The US dollar is expected to weaken after the Fed’s dovish stance. Risk assets like equities and gold are expected to benefit. Oil prices may see a short-term correction before resuming their uptrend. Cryptocurrencies show bullish signs, with potential for further gains.
EUR/USD:
- Trading Downward: Bulls failed to break resistance channel, technical correction expected.
- Support Levels: 1.0883, 1.0866
- Resistance Levels: 1.0940, 1.0986
- Trading Signal: Sell below 1.0940, Buy above 1.0866
GBP/USD:
- Possible Downward Move: BoE meeting could hint at rate cut, pressuring GBP.
- Support Levels: 1.2720, 1.2686
- Resistance Levels: 1.2820, 1.2855
- Trading Signal: Sell around resistance levels, Buy only on false breakouts at support
USD/JPY:
- Limited Upside Potential: Further growth depends on strong US data.
- Support Levels: 150.87
- Resistance Levels: 151.33, 152.11
- Trading Signal: Buy above 151.33, Sell below 150.87
AUD/USD:
- Mixed Outlook: Recent strong Australian jobs data may delay rate cuts, but USD strength could still weigh on AUD.
- Support Levels: Needs to hold above 0.6620 for buying.
- Resistance Levels: 0.6620
- Trading Signal: Caution with long positions, focus on USD behavior.
USD/CHF:
- Appreciating: SNB rate cut weakens CHF.
- Support Levels: 0.8876, 0.8812
- Resistance Levels: 0.8982, 0.9095
- Trading Signal: No recommendation provided.
XAU/USD (Gold):
- Uptrend Likely to Continue: Despite reaching record highs, further growth is possible.
- Support Levels: 2200.00, 2161.00, 2145.00, 2102.00, 2085.00, 2000.00
- Resistance Levels: 2222.00, 2300.00
- Trading Signal: Main scenario – Buy Stop at 2214.00, Alternative scenario – Sell Stop at 2195.00
Commodities:
- Oil (USCrude): Short-term correction likely, with support at 79.73. Look for buying opportunities at support zones. Overall uptrend expected.
Cryptocurrencies:
- Bitcoin (BTCUSD): Bullish. Potential buy signal at 66541.23, targeting 68698.52.
- Ethereum (ETH/USD): Bullish. Buy above $3,412, targeting $3,750. Further upside potential in the medium term.
- Ripple (XRPUSD): Bullish. Potential buy signal at 0.598, targeting 0.652.
Important Events:
- BoE meeting – decision on interest rates could impact GBP/USD.
- US economic data releases (PMI, jobless claims, existing home sales) could affect USD and other currencies.
Categories: Market News