Markets Focus on Fed Decision and Powell’s Statements Today

XAUUSD – Gold Technical Analysis

Gold prices continue their upward movement ahead of the U.S. Federal Reserve’s (Fed) interest rate decision and amid geopolitical tensions in the Middle East. After reaching a peak yesterday, gold surpassed $3,030 this morning, continuing its record highs. From a technical perspective, if the bullish trend continues, resistance levels to watch are $3,065 and $3,090. In case of pullbacks, support levels can be seen at $3,000 and $2,975.

Resistance Levels: 3,065 / 3,090 / 3,115
Support Levels: 3,000 / 2,975 / 2,950
 

XAGUSD – Silver Technical Analysis

Silver prices are showing a bullish trend this morning. If the upward movement continues, key resistance levels to monitor are $34.30 and $34.55. In case of a pullback, important support levels to follow are $33.80 and $33.60.

Resistance Levels: 34.30 / 34.55 / 34.85
Support Levels: 33.80 / 33.60 / 33.40
 

EUR/USD Technical Analysis

From a technical perspective, the pair is trading with a bearish trend this morning. If the downward movement continues, support levels to watch are 1.0910 and 1.0890. If an upward movement occurs, key resistance levels to monitor are 1.0950 and 1.0970.

Resistance Levels: 1.0950 / 1.0970 / 1.0990
Support Levels: 1.0910 / 1.0890 / 1.0870
 

NAS100 Technical Analysis

This morning, futures contracts on the Nasdaq 100 index are showing a bullish trend. If the upward movement continues, key resistance levels are 19,695 and 19,825. In case of pullbacks, important support levels to follow are 19,390 and 19,260.

Resistance Levels: 19,695 / 19,825 / 19,970
Support Levels: 19,390 / 19,260 / 19,140
 

UKOIL Technical Analysis

Oil prices started to decline following an increase in U.S. crude oil inventories. Meanwhile, geopolitical concerns continue to persist. Brent crude is trading with a bearish trend this morning. If the downward movement continues, important support levels to monitor are 69.75 and 69.25. In case of a recovery, key resistance levels to watch are 70.70 and 71.25.

Resistance Levels: 70.70 / 71.25 / 71.75
Support Levels: 69.75 / 69.25 / 68.75