EUR chart on Deriv


The EUR/USD pair continues to fall in a bearish channel. Any pullback for the pair is short-lived and followed by a strong bearish candle. Moreover, a negative outlook is also implied, as the pair broke through the 1.16 level for the first time in a year. Since it has fallen from a 1.19 to a 1.16 level without any major pullback, it might retrace higher before it resumes further decline. As far as price is concerned, on the higher side, 1.1680-1.17 will act as a strong resistance zone, while on the downside, 1.15 is a major support zone, followed by 1.1290. On a weekly basis, RSI is trading at 38, indicating the possibility of further downward movement. As a whole, the market will react to the US Nonfarm employment data, which will be released on Friday, 08 October 2021.

Trade EUR/USD options on DTrader and CFDs on Deriv MT5 Financial and Financial STP accounts.


GBP chart on Deriv


By breaking the 1.35 level, the GBP/USD pair made a new yearly low. A strong US dollar and rising concerns of Brexit continue to put pressure on the prices of GBP/USD. According to RSI, the index is trading at 42 and is continuing to decline. Last week, it breached and closed below the 78.6% retracement level, 1.3650. A major support level is situated close to the 61.8% retracement level, which is around 1.3170, while 1.3650 will decide the future trend for the GBP/USD pair.

Trade GBP/USD options on DTrader and CFDs on Deriv MT5 Financial and Financial STP accounts.

XAU/USD — Gold

Gold chart on Deriv


The prices of gold closed below their 50% retracement level of $1,764 for the third week in a row. Gold prices are falling due to higher Treasury yields and a strong US dollar. However, on a weekly basis, gold managed to close slightly positive near $1,759 after reaching a low near $1,721. There is a possibility of gold prices bouncing back for a short period due to the lack of an established trend. If it crosses next to the watch, it will be around $1,798 as it has a resistance zone at $1,764-1,770. On the downside, the next major support level is near the 38.2% retracement level of around $1,689. The US employment data scheduled to release on Friday, 08 October 2021, may shed some light on how gold prices will trend in the future.

Trade Gold options on DTrader and CFDs on Deriv MT5 Financial account.



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