Eurozone Focus on Annual Inflation Data Today

XAUUSD – Gold Technical Analysis

Weak economic data and rising inflation have increased demand for gold, the safe-haven asset. If the precious metal continues its upward movement, the key support levels to watch are 2920 and 2900. In the event of pullbacks, the key resistance levels to monitor are 2960 and 2970.

Resistance Levels: 2960 / 2970 / 2985
Support Levels: 2920 / 2900 / 2880
 

XAGUSD – Silver Technical Analysis

Silver prices are showing a positive trend this morning. If the upward movement continues, 32.90 and 33.25 will be key resistance levels. In case of pullbacks, the critical support levels to watch are 32.25 and 31.90.

Resistance Levels: 32.90 / 33.25 / 33.70
Support Levels: 32.25 / 31.90 / 31.50
 

EUR/USD – Technical Analysis

Following the release of preliminary PMI data on Friday, the pair closed the week on a bearish note. However, with uncertainty easing after the German election results, the pair is now showing a bullish trend. Technically, if the upward movement continues, 1.0525 and 1.0540 will act as resistance levels. In case of pullbacks, the key support levels to monitor are 1.0470 and 1.0440.

Resistance Levels: 1.0525 / 1.0540 / 1.0560
Support Levels: 1.0470 / 1.0440 / 1.0425
 

NAS100 – Technical Analysis

The NAS100 futures contract, which was at 21,774 this morning, is exhibiting an upward trend. If the positive movement continues, key resistance levels to watch are 21,975 and 22,115. On the downside, the main support levels are 21,685 and 21,585.

Resistance Levels: 21,975 / 22,115 / 22,320
Support Levels: 21,685 / 21,585 / 21,405
 

UKOIL – Technical Analysis

Oil prices have started the week on a bearish note due to Iraq's potential resumption of oil exports and the ongoing uncertainty regarding Russia’s negotiations to end the war in Ukraine. Brent crude is currently trading at $74.29 per barrel this morning, following a downward trend. If the decline continues, key support levels are 73.85 and 73.40. If a recovery occurs, the main resistance levels to watch are 74.75 and 75.15.

Resistance Levels: 74.75 / 75.15 / 75.90
Support Levels: 73.85 / 73.40 / 73.00