CFD: S&P 500 Index
S&P 500 extend the latest bounce to 3,336 from 3,223 since last week opening with most of all major stock markets just keep on rallying.
Technical looking at price moving strong towards and targeting towards key level resistance upper line.
Cryptocurrency: BTCUSD – BITCOIN
Price is also heading further towards upside on to move higher if it breaking above .
Targeting key level resistance on upper line at around $13k
CFD: WTI – US Oil
Last week, US oil jumped over 1% to regain $41.50 after Saudi Aramco’s CEO said that oil demand recovery is picking up amid easing lockdowns worldwide.
We are looking to the upside as price is hovering on and targeting price to retest again resistance key level on 43.50 towards 44.50 upper line.
CFD: DXY – US Dollar Index
US Dollar still continue moving downwards and we are looking at consolidation move inside the channel
However, last week NFP results & Fed comments have little to no impact on the US dollar , as the dollar index trades on the back in Asia this Monday, reversing a part of Friday’s rebound.
Strong resistance on the upper line and support on the lower line both key level to be alert for any breakout
CFD: XAUUSD – SPOT GOLD
Last Friday Gold dropped nearly about %1.50 action came in line with the rebound in the greenback leaving the scenario of a deeper correction unfavoured for the time being.
From our technical , price might move further lower towards inside uptrend as we see the key level support at $2,000 lower line support after price made reversal on 3.82 fibo resistance key level and targeting price is heading to retest on .
However trend clearly on strong and last week drop might be a price correction thus downside are limited and price might heading further with the current global economics situation.
Looking at current trend is going on range trading between key level 1.19 to 1.17 after price made reversal an attempt which is unable to break the current high and now we are looking at price to retest key level support.
This week we might still see sideline trading after few weeks of upside rally.
Price is still inside channel and had made reversal twice on upper line key level resistance and last week breaking lower below median.
Currently we are looking at price to retest the support key level at lower line and if break below it might bring towards to retest fibo 1.618/2% support key level before moving back towards .
Trend is clearly looking for a fresh direction with high impact news on GBP this week might bring new direction else high probability trend is going to be at sideline at the moment.
We are looking are price at sideline trading between key level resistance 0.72400 and support at 0.71000 as price is hovering inside the channel with the current market sentiment struggles for a clear direction.
High probability trend is still on consolidation this week and might further trading on a tight range.
Price to retest again key level resistance at 106. upper line and might pierce towards 1.618/2% fibo resistance and falls back towards US Dollar likely to remain weak until the US economy resumes stronger recovery.
Key level support is around 105. lower line if price to move below and running towards .
USD/CAD extends its side trend consolidating Friday’s around 1.3400 resistance key level on upper line.
Bulls struggle to extend the upside above the 1.3400, as the Canadian dollar continues par with the rally in WTI prices.
However we are looking at price to run on if price fail to break above upper line and targeting key level support at 1.33 .