S&P 500 weekly forecast [Video]

Anton Kolhanov Anton Kolhanov

This/Next Week Forecast (July 25 – 29, 2022)

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 3922, which will be followed by reaching resistance level 4168.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 3922, which will be followed by moving down to support level 3723.

Monthly Forecast, August 2022

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 3922, which will be followed by reaching resistance level 4168 – 4202.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 3922 which will be followed by moving down to support level 3639.

Author

Anton Kolhanov

Anton Kolhanov is a trader and an analyst. He started to study the Forex market in 2003.

EUR/USD turns negative near 1.1850

EUR/USD has given up its earlier intraday gains on Thursday and is now struggling to hold above the 1.1850 area. The US Dollar is finding renewed support from a pick-up in risk aversion, while fresh market chatter suggesting Russia could be considering a return to the US Dollar system is also lending the Greenback an extra boost.

GBP/USD change course, nears 1.3600

GBP/USD gives away its daily gains and recedes toward the low-1.3600s on Thursday. Indeed, Cable now struggles to regain some upside traction on the back of the sudden bout of buying interest in the Greenback. In the meantime, investors continue to assess a string of underwhelming UK data releases released earlier in the day.