Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
Moderna Joins S&P, NZD Surged on Inflation Data
Information is not investment advice
What you need to know on Friday
- Moderna rocketed after an announcement that the vaccine maker is going to join the S&P 500 index. Netflix will add video games to its services, which can be positive for the stock price.
- Fed’s Powell defended the central bank’s dovish stance even despite the high inflation again.
- This week is going to be the worst for crude oil since mid-March. A decline in oil prices was caused by fresh virus outbreaks and uncertainty over an OPEC+ deal to increase output.
- The New Zealand dollar surged after the nation’s inflation surpassed the central bank’s target level, moving New Zealand closer to an interest-rate increase. NZD/USD rocketed!
Tech tips
EUR/USD has failed to cross the 1.1800 support level so far. If it breaks it, the way down to the low of June 14 at 1.1770 will be clear. The 50-period moving average near 1.1825 remains the strong resistance level. The next resistance is at yesterday’s high of 1.1850.
Gold has failed to cross the key resistance level of $1833, which lies at the 50% Fibonacci retracement level. The way to the 38.2% Fibo level of $1815 is clear now. If it breaks it, the way down to the 23.6% Fibo level of $1790 will be open. In the opposite scenario, if gold crosses the $1833 barrier, the metal can rally up to the next round number of $1850.
Finally, let’s see what’s happening with the British pound. The symmetrical triangle has occurred on the GBP/USD chart. It means that we should wait for a breakout of the lower or upper line. If the price goes below the lower line and surpasses the 1.3800 support level, it will fall to 1.3750. However, 1.3800 is a strong barrier and the pair is likely to bounce off rather than breaking out. Resistance levels are 1.3865 and 1.3900.
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Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
The US Labor Market And Real Estate Market Are In Focus This Week
Labor Market and Real Estate Market data was published yesterday. Markets are slowing down, so the economy is in recession. Today the traders should pay attention to the Retail sales in Canada.
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