Market Updates

EUR/USD

The EUR/USD has lost short term upward momentum after retesting the 1.19000 handle. This is mainly due to US Dollar bouncing back from the weakness previously experienced. The focus for this week will be on what the ECB President Lagarde says during her speech, as many traders tend to listen for any hints on the future of the monetary policy and interest rate shifts, this may cause a small, short-term trends either to the up or down side. With the next level of resistance still standing at the 1.1900 handle. Our support level can be found around the 1.1660 - 1.1670 range which was last visited on the 19th – 20th of August, can the pair reach down to the support, or will it continue to attempt to break out on the upside?

 

 

Daily Currency Heatmap

On the daily currency Heatmap illustrates the strength of the Canadian Dollar against all other major currencies. The Euro is showing the most weakness against the other pairs in the recent days.

 

 

Gold

Gold has once again tested the key level of resistance is the $1832 level, although it was unable to breakout. Since then, the precious metal has fallen back in to the $1814- $1785 range last seen in July of 2021. We have also seen the precious metal break the $1800 key psychological level for Gold, which is now trading at $1786.70. The $1775 area serves as our short-term support. The key level of resistance continues to be at the $1832 level; a break of this may see gold rise in the longer term. In the short term will gold retest the $1775 level, before trying to move higher?

 

 

*Source Investing.com Calculator

 

This downward trend in the volatility has continued since August although. Will there be a likely change in this trend in the short term?

 

Stocks to Watch

 

Earnings: Below are the stocks to monitor for the rest of the week will announce their earnings.

Dividends: The following stocks will be paying dividends over this week.

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