IG: One-week technical analysis of the five major

Description:
introductionLast week's US data was in favor of the dollar, with PPI, CPI and retail sales all slightly stronger than expected, but the strength of rivals such as the euro and the pound undermined the dollar's performance. The dollar index edged down 0.21 percent last week, and if it can stabilize support at the 98.00 level this week, it may usher in a rebound correction. With few major U.S. economic data releases this week, the focus will be on the Federal Reserve's latest interest rate decision.01 EUR/USDEur/USD oscillated last week, hitting as low as 1.0927 at the beginning of the month, but rebounded to 1.1110 at one point. As the rally has been blocked in the downtrend line since June, the pullback risk should be watched this week. If the downside, the current initial support is 1.1070 and Bollinger band medium track 1.1045, etc., below 1.1045 May open further downside space to 1.1000. On the upside, the downtrend line (1.1090) to the 1.1100 area constitutes significant resistance, and an effective breakout may open up further upside.Summarize the downward trend line or limit the rebound since June02 Gold/USDGold oscillated down in the 1490-1520 range last week, and the three consecutive negative weekly lines reminded investors to pay attention to further downside risks, so this week should continue to pay attention to the 1490 front-line support role. If the downside effectively breaks the key support 1490, or opens up further downside space, the downside may point to potential support levels such as 1470 or even 1450. On the upside, the key resistance is at 1520, and an effective break may open further upside, up or towards 1550.Summary Continue to pay attention to the role of 1490 front-line support$03 / yenUsd/JPY after breaking through 107.00 last week continued to expand gains, has now shown signs of breaking through the downward trend line since April (108.00), if the effective break through the resistance is expected to usher in further upward space, or point to 108.50 and 109.00 levels. If it fails to break through 108, it will support 107.60, 107.30 and 107.00 levels below.Summary or break through the downward trend line since April continues to strengthen04 pounds per dollarGBP/USD continued to extend gains last week and is now starting to test resistance at the 1.2500 level, and this week's move may depend on whether it can break this resistance. If it can break 1.2500, it is expected to open up further space for gains, and levels such as 1.2600 and 1.2700 will become upward targets. If it is blocked at 1.2500, it should pay attention to the risk of correction, the initial support below the level of 1.2400 and 1.2380, and breaking these supports will have the risk of expanding the decline to the 20-day moving average of 1.2280.Focus on the resistance role of 1.2500 mark05 AUD/USDAud/USD oscillated last week under the first line support of 0.6850, continue to focus on this support this week, and the outlook for stabilizing this level will remain bullish. If it meets the expected upside, the initial resistance above is 0.6900, and the resistance level of 0.6925 and 0.6950 will be concerned after the breakthrough. However, if the support of 0.6850 is lost, it may seek support in the 0.6800-0.6820 support area.Summary The outlook above 0.6850 remains bullishstatementThe wechat public number is not a customer service channel. If you have any problems related to your account or transaction, please call the Chinese hotline 400 120 9228 on working days immediately for timely solution. IG only provides trade execution. Market research information does not contain, and should not be construed to contain, personal financial or investment advice or other advice, or an offer or solicitation for trading in any financial product. The information does not take into account your specific investment purpose, financial situation or investment needs. Please read our product disclosure statement carefully. IG Markets is established in the United Kingdom with registration number 4008957 and licence number 195355 issued by the Financial Conduct Authority. IG is registered as a foreign-owned enterprise in Australia under the Australian Companies Act (2001), registration number 84 099 019 851. ABN 84 099 019 851, Australian Financial Services Licence No. 220440. New Zealand Financial Derivatives Issuer License, Financial Services Provider (FSP) number 18923.
Hot
-
EURGBP CONTINUES TO BE SUBDUED IN FEBRUARY
source:financefeeds Fx news
-
FINASTRA BRINGS TRADING PLATFORM AND RISK SOLUTION TO TAIWANESE BANKS VIA SYSTEX
source:financefeeds Fx news
-
IS THE UK ECONOMY COMING OUT OF RECESSION? EURGBP LOOKS PROMISING
source:financefeeds Fx news
-
Us stocks fell after Federal Reserve Chairman Jerome Powell hit back at expectations of a rate cut
source:financefeeds Fx news
-
NEW YORK’S HARDLINE APPROACH TO FRAUD: FROM CRYPTO TO TRUMP
source:financefeeds Fx news
-
ARE INVESTORS TURNING TO COMMODITIES AHEAD OF TOMORROW’S FOMC MINUTES?
source:financefeeds Fx news
-
Australias ASIC has removed 3,500 fraudulent investment websites in an anti-fraud operation
source:WikiFX Fx news
-
WHY RETAIL BROKERS ARE LAUNCHING PRIME SERVICES
source:financefeeds Fx news
-
SKY HIGH INFLATION, BASE RATES, AND BITCOIN: HOW UK ECONOMIC PERFORMANCE AFFECTS THE GBP/BTC PRICE
source:financefeeds Fx news
-
WEEKLY DATA: OIL AND GOLD: BRIEF REVIEW BEFORE THE NFP
source:financefeeds Fx news

What is SearchFx?
SearchFx website aims to provide a public complaint platform for the victims of financial investment, and at the same time, it will do its best to solve the exposure for investors, so as to finally achieve a public welfare website with the goal of recovering losses. More>

