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Gold Steady Below Record, EUR/USD Nears 1.1150, Dow Gains on Steady Buying.

By Research Team Thursday, Sep 26, 2024
EUR/USD

    • 11.30amD1
    • High1.1152
    • Low1.1129
    • Close1.1180

EUR/USD The EUR/USD pair trades around 1.1140, supported by a weaker US Dollar ahead of key economic data and speeches from Fed officials, including Chair Jerome Powell. Analysts anticipate potential aggressive rate cuts from the Fed, with support at 1.1121-1.1070 and resistance near 1.1180-1.1216. Meanwhile, Eurozone business activity decline raises speculation of further ECB rate cuts, adding to market volatility as traders await Fed comments trading at 1.1148, 0.14% up since previous day close.

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Daily Outlook

EUR/USD

Intra Day
Near Day

Technical Levels

R3 1.1250
R2 1.1216
R1 1.1179
Turnaround 1.1135
S1 1.1121
S2 1.1070
S3 1.1040
By Research Team Thursday, Sep 26, 2024
US30

    • 11.35amD1
    • High42090.00
    • Low41870.00
    • Close42065.00

US30 is trading at 42065, 0.43 % up since previous day close. The Dow Jones 30 remains volatile but is driven higher by liquidity as Wall Street responds to a softening dollar and a weakening US economy, which could lead to further Fed easing. Currently, the market is holding steady with support around the 41,600 level, a former resistance. As long as it stays above this level, buying the dips seems favourable. Nearest support is at 41,800-41,420, while resistance is found at 42,300-42,790.

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Daily Outlook

US30

Intra Day
Near Day

Technical Levels

R3 43000.00
R2 42790.00
R1 42309.00
Turnaround 42040.00
S1 41838.00
S2 41419.00
S3 41000.00
By Research Team Thursday, Sep 26, 2024
GOLD

    • 11.40amD1
    • High2663.00
    • Low2655.00
    • Close2658.00

XAUUSD is trading at 2658,0.07% down since previous day close. The Relative Strength Index (RSI) indicates overbought conditions for Gold (XAU/USD), yet a recent breakout through a short-term ascending trend channel suggests bullish momentum may continue. Price action remains range-bound below recent peaks, with support near 2650-2627 and resistance at 2670-2686. Geopolitical tensions and concerns over China’s economic recovery provide a safe-haven boost for gold amid mixed signals from the US Dollar.

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Daily Outlook

GOLD

Intra Day
Near Day

Technical Levels

R3 2690.00
R2 2686.00
R1 2671.00
Turnaround 2657.00
S1 2650.00
S2 2627.00
S3 2600.00
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