EUR/USD


EUR/USD is trading sideways since it touched the 1.22 level. We’re into the second week now, and the pair is still hovering around the same level. We expect a narrow movement on Monday, as the major markets like the USA and UK are closed due to holiday. There is a possibility of 50 SMA cross over to 100 SMA which supports slightly bullish momentum for the pair. On the higher side, any firm move above 1.22 may trigger the price for the next resistance which is at 1.23 and 1.23500. While on the downside 1.21 and 1.20 will continue to provide support for the week. Traders can trade EUR/USD as options with Deriv on DTrader and as CFD on DMT5 Financial and DMT5 Financial STP.

USD/JPY

USD/JPY is trading in an ascending triangle above 50 days SMA on a daily basis, supporting further upside. On a monthly basis, 110.20 level is resistance followed by 110.90. On the downside, 109.20 is the first major support as it is at 50% Fibonacci retracement and also the 50 days SMA.  



XAU/USD



Gold (XAU/USD) is trading at a three month high. It has rallied one way up since it made the double bottom near the $1676 area in the month of March. Falling treasury yield is helping the prices to rise from the beginning of the month. In an ongoing uptrend channel, major resistance is near to $1924, that is 61.8% retracement level if it manages to cross that level, and it may march towards this year's high of $1958. While on the downside, 50% Fibonacci retracement level of $1876 will continue to provide support in the event of any pullback.

Traders can trade Gold/USD options on Dtrader and CFD Gold (XAU/USD) on DMT5 Financial account.

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