This week’s forecast covers a range of assets including the FTSE 100, USD/CHF, NZD/USD, EUR/USD, Gold, ASX 200, USD/JPY, and WTI Crude Oil. Let’s take a look at what the charts are indicating for each of these markets.
Starting with the FTSE 100, the index is currently trading in a range-bound pattern. Traders are advised to monitor key support and resistance levels for potential breakout opportunities.
Next, the USD/CHF pair is showing signs of bullish momentum as it continues to trade above key moving averages. Traders may consider long positions with caution.
Moving on to the NZD/USD, the pair is currently in a downtrend, with resistance levels to watch for potential short opportunities.
In the EUR/USD market, the pair is trading within a tight range. Traders should monitor for a breakout in either direction for potential trading opportunities.
Gold prices are consolidating near key support levels. Traders may consider long positions if prices hold above support levels.
The ASX 200 index is showing signs of bullish momentum, with key resistance levels to watch for potential breakout opportunities.
In the USD/JPY market, the pair is trading within a range. Traders should monitor for a breakout for potential trading opportunities.
Finally, WTI Crude Oil prices are showing signs of bullish momentum as they continue to trade above key moving averages. Traders may consider long positions with caution.
Overall, traders should closely monitor key support and resistance levels for potential trading opportunities in these markets throughout the week.