This week is going to start with some important releases, among them CPI q/q, BOC Monetary Policy Report, ECB Monetary Policy Statement, ECB Press Conference, GDP q/q and Core PCE Price Index m/m are the key market movers.
Therefore, the investors may find the market a little volatile this week.
Let’s see what we have got for the coming week from the EURUSD:
EUR/USD
EURO/USD just passed a bullish week, however this week started with a bullish movement as well. The current price of EUR USD is trading below the resistance of 1.1670 event level and above the support of 1.1525 key level. The market is at a neutral position at the moment. Therefore, considering the overall structure we should focus on finding a sell if the market closes at the 1.1600 level. However, if the price moves above 1.1760 level with a bullish daily close, we should focus on finding a buy.
In the chart above, we can see that the EURUSD remains below the dynamic 20 EMA and stays stable. Considering the current market structure, we may expect the price to bounce back up, which may alter the market condition.
GBP/USD
The current price of GBP/USD is trading below the resistance of 1.3860 and above the 1.3610 key level. Therefore, considering the overall structure we should focus on finding a sell below the 1.3690 closed candle and if the price moves the 1.3860 level, the sell would be invalid
In the chart above, we can see that the GBP/USD is above the dynamic 20 EMA with a bullish momentum.
Considering the current market structure, we may expect the price to move up towards the 1.3900 level. However, a break below the 1.3860 level may alter the market condition.
XAU/USD
The current price is trading below the resistance of 1808 and above the support of 1790 key level. Therefore, considering the overall structure we should focus on finding a buy below the 1831 closed candles.
We can see in the above chart that XAU/USD is above the dynamic 20 EMA with a bullish momentum.
Considering the current market structure, we may expect the price to move higher towards the 1813 level. However, a break below the 1760 level may alter the market condition.
BTC/USD
The current price of BTC/USD is trading below the 65,000.00 psychological level. As the price is trading way above the Dynamic 20 EMA, there is a possibility of moving the price higher towards the 75000.00 key level. Therefore, considering the overall structure we should focus on finding a buy above the 52800.00 with bullish closed candles.
In the chart above, BTC/USD is above the dynamic 20 EMA and it has a higher possibility of moving towards the 75000.00 key level this week.
Considering the current market structure, we may expect the price to move higher towards the 75000.00 level. However, a break below the 52800.00 level may alter the market condition.
Overall, there is a possibility of a decent price movement for both bulls and bears.
Technical Analysis You May Follow
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