Weekly Overview 25/4/2022
Weekly overview includes the movements of the major pairs with gold and oil and the areas that traders should monitor during the week with the most important economic data for this week
US dollar index
More rise for the dollar index, as it rose at the beginning of this week's trading session by about 0.64%
At the end of last week, this index closed above the 101.015 level, which represents a very important resistance line, and it has traded below it since April 3, 2020, which supports the rise to 103.570 levels. This indicator declined again in the medium term
Gold
Gold declined about 4.13% after approaching the 2000 level, to approach again from the 1882,551 level, which represents an important and basic support area for gold
Crude Oil
Following the repercussions of Corona in China and the markets’ fear of a drop in demand for oil, crude oil declined by about 10.26% to approach the 96 level, which could represent a buying opportunity again. The first target is at the 109 level and the second target is at the 115 level, and in the event of breaching the 92 level and closing Below it on the four-hour frame, it will be a negative sign for oil, and it is possible to decline again to the level of 87
Euro against US dollar
The euro is touching its lowest level against the US dollar since May 18, 2020, and the outlook for this pair is negative and there are no chances to buy in the medium term
The euro witnessed an increase in the beginning of trading on Monday, after the victory of French President Macron for a second term, and then completed its descending trend to breach the 1.07657 level and close below it on the four-hour frame, which indicates a decline to the 1.06316 level.
In the event of an upward correction, the level of 1.08984 represents a new selling opportunity for this pair, and to maintain the negative scenario on the euro dollar, not to breach the 1.09372 level and close above it on the four-hour frame
British pound against US dollar
As we mentioned in our previous publications that this pair is negative in movement recently and we do not have any buying opportunities, and the level of 1.29988 was the last support line before the collapse of this pair in the event of its loss as it happened, and it fell about 2.37%, or about 300 points, to reach the target The first is at the level of 1.28538 and is separated by 44 points to reach the second target located at the level of 1.26762
US dollar against Canadian dollar
This pair rose about 2.22% to achieve the targets set in the previous bulletin, and we expect more rise for this pair to touch 1.284 levels again
US dollar against Swiss franc
The pair rose in the past weeks about 3.46%, or 319 points, and this rise indicates several positive signs, the first of which is the breach of the 0.94746 level, which represents an important resistance line in the long term and forming a new top, which supports the positive framework, and now the long-term target is at The level of 0.97995, but it is better to corrective decline to promote buying again
Australian dollar against US dollar
This pair is still trading in a general bearish trend on the long term, and the long-term target is at the level of 0.69911, which represents a very important support line that this nut touched several times but will not be able to breach it
New Zealand dollar against US dollar
The pair completes its bearish trend and reaches the level of 0.67420, which represents a support line, and it breaks downwards, as well as reaches the level of 0.66627 and breaks it
The most important economic data for this week
Tuesday 26 April
US Dollar: Durable Goods Orders
Consumer Confidence Index
Wednesday 27 April
Australian dollar: consumer price index
Thursday 28th April
US dollar: Gross Domestic Product
Unemployment Complaint Rates
Friday April 29
US Dollar: Personal Consumption Expenditure Price Index
Canadian dollar: Gross Domestic Product
Tags : DXYXAUUSDCRUDEOILEURUSDGBPUSDAUDUSDNZDUSDUSDCHFUSDCAD
