EUR/USD


It was a choppy movement for the EUR/USD last week. The pair attempted to cross 1.225 level but failed to move further up, even declining back to 1.21 level as the US dollar Index showed some positive momentum. Since last March, EUR/USD was trading upside in a rising channel until last week when it started trading below the three months upside trendline. Moving ahead, EUR/USD will continue to face stiff resistance around the 1.2250 area while on the downside 1.20 level will provide the short term support.

GOLD

Gold has started a fresh month with a bearish movement. After four consecutive bullish weeks it declined for the first time from its key level of above $1915 to $1855 and closed the week near to the $1890 spot. For the coming week, $1876 will be the key level to watch which is 50% retracement level. If it falls below that, the next important support level is 38.2% retracement level at $1829 spot. While on the higher side, it might resume an upside rally once it manages to break the $1923 level that is 61.8% retracement.


BTC/USD

Bitcoin continues to slide down with the start of the month. On a monthly basis it is going down for the third consecutive month. It is trading near $32600. On a daily basis, first support is near to $29567, followed by major support at $27000 which is 38.2% retracement level. While on the higher side, $41500 which is 61.8% retracement level will act as the immediate resistance followed by $45000 level.

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