Key news expected to be traded during the week: West Texas Intermediate crude futures rose Gold surged strongly,
and currency and indices volatility, in addition to the release of the most important reports awaiting you this week

Content

Economic Event

Gold

Oil

Economic Event

Tuesday, April 2

11:00 EUR Consumer Price Index (Annual) (March)

11:00 EUR Consumer Price Index (Monthly) (March)

Wednesday, April 3

17:30 USD U.S. Crude Oil Inventories

19:10 USD Speech by Federal Reserve Chair Powell

Thursday, April 4

15:30 USD Unemployment Claims

Friday, April 5

15:30 USD Unemployment Rate (March)

Gold

Gold surged strongly during last week’s trading by more than 3%,
This month, it is breaking its historical peak at the 2222 level for the second time.
Despite positive US data last week, gold continued to rise due to ongoing geopolitical tensions.
Markets await US unemployment data next Friday.
After breaching the 2222 level,
gold is expected to continue ascending, potentially reaching the 2240 level.

Oil

West Texas Intermediate crude futures rose above $83 per barrel,
rebounding from an important resistance level and the upper limit of a symmetrical triangle
and above a pivotal point at $80.80 daily.
The rise is expected to continue if prices hold above this level.
However, if a downward break is confirmed, a retest of the support area at 76.05 – 75.00,
coinciding with the upward trend line since the start of the year, is likely.

U.S. Dow Jones Index

Last week, the Dow Jones index rose strongly by more than 1%
after rebounding from support levels at 39295-39225.
The personal consumption expenditures price index came out positive last Friday,
and markets await employment data next Friday.
Some downward correction is expected after the index reaches 39800 levels,
followed by a continuation of the rise.

GBPUSD

The pound stabilized around 1.26 US dollars after breaking the support level at 1.2710
and is still in a sideways range on the daily frame.
A retest of the 1.2500 support is expected before returning to rise to levels 1.2710 and then 1.2895.
However, after breaking the pivotal point at 1.2666,
a continued decline to 1.2340 and 1.2280 is likely if the support is broken.

EURUSD

The pair fell during last week’s trading by about 0.3%.
Positive US data was released last week,
The most important factor is the personal consumption expenditures index.
Markets await US unemployment data next Friday and the German consumer price index next Tuesday.
The pair is moving below the support levels 1.0800-1.0790,
and the downward trend from the current month’s peak is further declining to the expected 1.0725 levels.

USDJPY

The USDJPY pair is trading around a strong resistance level at 151.70
after rebounding from a support area around the 146 levels with high momentum
and above the 50 and 200-day averages in a rectangular continuation pattern on a 4-hour timeframe.
If the resistance breaks and prices consolidate above it,
we expect a continued rise, targeting the 153.50 and 155.00 levels.
However, if it drops and breaks the pivotal level of 150.85, a retest of the 149.00 level is likely,
and breaking below it would lead us to retest the support area again.

Key news expected to be traded during the week

Key news expected to be traded during the week

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