Market Commentary: EURUSD, EURJPY, EU Indexes, Gold, USDCAD
Today’s video is a general wrap up, where we take a look at some of the main movers in FX, Gold and price action on European indexes.
We look at EU indexes, GER30, FRA40 and UK100 heading into today’s London session. Indexes have trimmed earlier gains we look at current support and resistance levels. Ranges persist on a few markets if the rallies continue to lose momentum could we see new short-term selling?
The EUR continues to see buyer momentum despite some active selling late in yesterday’s U.S. session. Today buyers have continued to move the EURUSD and EURJPY higher. The EURUSD has been hitting new weekly highs. Gold was another market hitting new highs. The weekly rally continued yesterday with price hitting 1818, a level going back to 2011.
We review the USDCAD after the rally failed last night and sellers moved price back to support. We run over the updated price action we’re watching that might suggest sellers are now back in control.
The sparse news week continues with no high impact news due in today’s London and New York sessions.
Today’s Market Analysis Video