Weekly outlook covering Where EURUSD pushes higher and UKOIL, NAS 100 analysis and key support and resistance levels shaping market expectations.
EURUSD pushes higher
The euro continues to move higher as prices remain bullish. However, this could all change with this week’s inflation data, which is expected to creep higher as higher inflation has become customary across nations. With this week’s Non-Farm Payroll numbers likely to give the employment market a lift, the dollar could bounce back as traders await the next move in the Middle Eastern conflict. A turnaround in sentiment could sink the euro to 1.1540, with 1.1700 as the first resistance.
UKOIL retreats as demand remains uncertain
Oil prices across the board moved lower amid expectations of a U.S.-Iran nuclear deal, which could reopen the Strait of Hormuz and release more barrels into the market. With President Trump admitting Iran was close to agreeing to the terms, the black gold fell away from its recent peak. This move is symbolic of the overall wariness about demand growth for the rest of the year. 90.00 is a fresh psychological support, and 97.50 remains the first hurdle higher.
NAS 100 continues hitting records
Indices remain buoyant as we head into another week of potential growth. The Nasdaq 100 remains in bullish mode after hitting more records in recent sessions, as the AI and tech bubble continues to grow. Tech giants are the main winners over the past few sessions, with Nvidia and Amazon, among others, pushing higher, underscoring their status as market leaders. 30800 is the hurdle ahead for buyers, whilst any potential pullback needs a close below 29000.
