fbpx

Register for MT4 Demo Account

Register for xStation Account

RBA Leaves Interest Rate Unchanged, Indices Turned Bullish & Oil Prices Surges Above $76 Levels

By Research Team Tuesday, Jul 6, 2021
EUR/USD

    • 10.24am ISTD1
    • High1.18797
    • Low1.18583
    • Close1.18791

EUR/USD is trading at 1.18675, 0.07% up since Monday. The EURO seems to be trading slightly on higher note against the firmer USD as market waits for the result of FOMC Minutes which is to be issued on Wednesday. Moreover, the calmness over early U.S interest rate hike chances amid robust U.S Non-farm Payroll data cushioned the other currencies to some extent. The Euro-zone Final Services PMI slightly grew up to 58.3 from 58.0 in the prior month which remained supportive for EUR/USD. The result of ZEW Economic Sentiment data will remain in focus for the day. As seen in the chart, the pair is trading near major support level & hence, the cautious trading may be seen further.

Read More… Read Less

Daily Outlook

EUR/USD

Intra Day
Near Day

Technical Levels

R3 1.19228
R2 1.18938
R1 1.18779
Turnaround 1.18647
S1 1.18488
S2 1.18356
S3 1.18065
By Research Team Tuesday, Jul 6, 2021
GOLD

    • 11.10am ISTD1
    • High1803.17
    • Low1790.8
    • Close1802.61

Gold is trading at $1801.36, 0.29% up since previous close. A sharp resurgence can be seen in Gold prices, almost crossing $1800 levels since last one-month, amid mixed USD after U.S posted robust NFP data which lowers down the chances of early interest rate hike. Earlier to this, the metals sharply slid down as Fed hinted for two rate hikes in the year 2023 which cushioned the greenback. The progressive global recovery & evenly distribution of Covid-19 vaccine supplies in the world remains supportive for commodities. As seen in the chart, the Gold successfully reversed up from previous lows & also, is on the verge of crossing MA (200). Buying bias may be seen on daily basis in Gold with expected level of $1820.

Read More… Read Less

Daily Outlook

GOLD

Intra Day
Near Day

Technical Levels

R3 1809.42000
R2 1799.77000
R1 1795.73000
Turnaround 1790.12000
S1 1786.08000
S2 1780.17700
S3 1770.82000
By Research Team Tuesday, Jul 6, 2021
AUS200

    • 10.45am ISTD1
    • High7260
    • Low7170
    • Close7181

AUS200 is trading at 7200, 0.11% down since Monday. The Asian shares weakened slightly on Tuesday as Chinese markets dragged down amid technology stocks rout. Also, the weaker than expected Chinese PMI figures pressurized the AUS200 since Australia & China are the trading partners. The Reserve Bank of Australia (RBA) left its interest rate steady at 0.10% as expected & hinted for monetary easing if required. The worsening Covid-19 situation in the country remains crucial for Aussie as well AUS200. The result of AIG services Index will be closely watched for the week. As seen in the chart, the AUS200 is trading near bullish trend-line indicating the chances of reversal if sustained and a breakdown if breached further.

Read More… Read Less

Daily Outlook

AUS200

Intra Day
Near Day

Technical Levels

R3 7322.00000
R2 7281.00000
R1 7264.00000
Turnaround 7240.00000
S1 7223.00000
S2 7199.00000
S3 7158.00000
footer-logo

XFlow Markets provides an entirely transparent access to the FOREX Market through two powerful trading platforms with excellent execution speed, a 24/5 client support system with no dealing desk involvement.

 

© 2024 XFlow Markets, All rights reserved.

Risk Warning: Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances.

You may lose more than you invest. Information on this website is general in nature. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. Trading through an online platform carries additional risks.

 

XFlow Markets INC is incorporated in Saint Lucia with registration no. 2023/C088 governed by the Companies Act, Cap 13.01 of the revised laws of Saint Lucia.

XFlow Markets does not offer Contracts for Difference to residents of certain jurisdictions including the Belgium, Iran, Canada, North Korea, the USA, Cuba, Syria and FATF Black Listed Countries.

Telephone number: UAE: +971 43304431 Working hours: 7:00 AM - 5:00 PM (GMT+0)

XFlow Markets does not offer any fixed returns & guaranteed profits. Forex and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Your capital is at risk. Please consider our Risk Disclosure.

XFlow Markets does not guarantee any returns or profits. Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.