Market Updates

EUR/USD

EUR/USD has been trading in a downwards channel in the past quarter of the year, moving from the 1.1800’s down to the current level of trading at 1.1360. Our current resistance stands at the 1.1670-1.1660 area. A breakeout to the upside may see the pair move to test the more distant resistance at 1.1880, the main level of resistance can still be seen at the 1.1900 handle. Our strong support still stands the 1.1530-1.1525 range, a break of this level and the pair may continue to gently slide lower, possible to test the support last touched in June of 2020.

 

 

5 Hour Currency Heatmap

The Currency Heatmap shows how the Swiss Franc has began to strengthen vs all of the other major currencies. The New Zealand Dollar and the Japanese Yen are the weakest against all other pairs except across the board.

 

 

Gold

The precious metal has continued the upward momentum moving past the $1,830 resistance, and is now trading towards the next level of resistance at $1,910 on the Daily chart. After such a fast breakout we may see a small correction. Will we see a possible re-test of the $1,832 price before it continues higher? The level of strong support currently stands within the $1,760 - $1,745, a break of the support may see the price of Gold drifting back down towards the $1,725level.

 

 

 

*Source Investing.com Calculator

 

Volatility has started to increase gradually since the low seen on the 24/10/2021, reaching its peak on the 11/11/2021 aroung the 2400 points mark. Since then we have seen a slight decline in the volatility, as the market seems to be slightly setttling down. Can the increase in volatility continue?

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