Weekly Technical Analysis 11.09.2023 - 15.09.2023

EUR/USD

EUR/USD Current level - 1.07377.

The pair drops back towards 1.0700 as ECB blackout begins, eyes on Fed speakers. Is now seen navigating within the 1.0700-1.0750 range in the next few weeks but posts mild losses while reversing the previous day’s corrective bounce off a multi-day bottom. The pair may fall to 1.05200 - 1.06700 for the following days.

Gold

Gold Current level - 1926.48.

XAU/USD snaps a five-day losing streak, trading higher around $1,920, up by 0.20% during the Asian session on Thursday. However, the bright metal is facing downward pressure as traders factor in the odds for a 25 basis points (bps) interest rate hike by the US Federal Reserve (Fed) through the end of the year 2023 and may fall to 1907.00 - 1914.00.

DJ30

DJ30 Current level - 34653.

The Dow Jones closed lower Wednesday by 0.6% as fresh inflation jitters renewed concerns about higher for longer interest rates. The indice fall may continue to fall to 34030 .00- 34250.00 levels

USOIL

USOIL Current level - 86.582

USOIL is trading around the $87.00 mark so far on Thursday. WTI prices gain momentum due to further draws on US crude oil inventory and the voluntary supply cut by Saudi Arabia and Russia. If the rising trend continues we might see the USOIL reach the 88.05 - 89.00 level

BTCUSD

BTCUSD Current level - 25761.40

BTC/USD price turned bearish below 26,000. The cryptocurrency news landscape on Tuesday was largely dominated by The Financial Accounting Standards Board (FASB) reaching a unanimous decision to endorse regulations for the accounting of fair values associated with companies’ cryptocurrency holdings.