Since the beginning of June, EUR/USD has been moving quite volatile- it went down from 1.2250 to 1.1850 within the last 3 weeks. Since last week, it’s trading between 50% and 38.2% retracement level. For the week, the market will wait for US Manufacturing PMI data on Thursday and later on Friday the most important event will be US Non-farm employment data which could affect the pair.
Technically, 1.1830 will act as strong support and on the higher side, 1.1950 will act as the first resistance followed by 61.8% retracement level of 1.2050.
Gold corrected more than 8% in the month of June, 2021. It was a massive correction within a short span of 3 weeks. The strong US dollar index is one of the major reasons for weak metals and currencies, plus rising concern of the Delta variant of Covid and lockdown in Australia and some other countries are putting pressure on precious metals.
Technically, Gold is trading near to its intermediate support level which is 50% Fibonacci retracement level $1762, below that next major support is at $1688, that is 38.2% retracement level. While on the higher side $1838 will continue to act as major resistance, before it starts any upside momentum.
Bitcoin has been in a downtrend ever since it made its lifetime high near to $65000. There has not been a single pull back since then. On a weekly basis, Bitcoin is facing strong resistance at 61.8% retracement level $41470, also it is trading just near to its intermediate support level of $34000. If it fails to hold $34000, the next major support is at $27000 followed by $24800 level. Any sustained move above $34000 may lift the price back to above $36000. Rising concern of Crypto mining in China is also putting pressure on Bitcoin.
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