EURUSD remains in a bear trap
The dollar’s dominance continued as last week’s job numbers surprised the market, pressuring the EURUSD.
- As the euro shed over 100 pips, the pair will be looking for support.
- With last week’s Euro inflation creeping higher, this week’s US inflation is expected to remain elevated.
- 1.1100 is the closest support, with 1.1260 the higher target.
UKOIL falls further
Oil remains indecisive as fresh talks on a peace plan in the Middle East take effect.
- Traders have taken profits as the black gold gave up gains.
- However, with tensions still simmering, investors are watching oil closely for another drive higher.
- The price could probe the support at 92.00, with 114.00 as a potential target.
SPX 500 licking its wounds
The S&P500 looks to recover from last week’s correction, as the decline in tech and AI stocks was felt across the markets.
- With the Democrats expected to pull back in its funding with AI, the S&P could fall further.
- As the index drives towards 7300, any chance of a pullback would see 7720 as a major resistance.
