- In today’s Economic calendar we can expect to see some volatility in the EUR, CAD and in the USD
- At 09:00 (GMT), the Central Bank of the Federal Republic of Germany (Deutsche Bundesbank) will release the number for Factory Orders for the previous month
- The result is forecasted to decrease to -1.9% considering that last month was at 5.5%
- At 17:30 (GMT), the Bank of Canada (Banque du Canada) will release their Business Outlook Survey
- The Business Outlook Survey compiles of interviews conducted by the Bank's regional offices with the senior management of about 100 firms, selected in accordance with the composition of the Gross Domestic Product (GDP) of Canada's business sector
- A gathering of the Organization of the Petroleum Exporting Countries (OPEC) members and other Oil producers that was scheduled for Monday was been pushed back, allowing more time for negotiations between Saudi Arabia and Russia
Global Indices Last Week:
- Dow Jones 30: -1.68%
- S&P 500: -1%
- Nasdaq 100: -0.28%
- Euro Stoxx 50: +0.88%
- Dax 30: +1.44%
- MIB 40: -2.61%
- IBEX 35: -2.37%
- CAC 40: -4.40%
On the Charts
- The Platinum price is now at $735
- The metal, after a downward movement, it retraced to a previous resistance level and reacted at $760
- That price, also consists the 38.2% Fibonacci Retracement level from 1018 to 575
- Rate of change (6 periods) crossed the zero line to the downside, and the RSI is testing its previous resistance level at 41
- Price is below its 50 (purple) and 100 (orange) days Moving average, while 50 days crossed to the downside the 100 days
- Considering the above, there is a possibility to see the price moving lower to the previous month bottom, at 575
- Otherwise, if the price moves higher and breaks the blue downward trendline, we may see it testing the previous resistance at 851, a price which also consists the 61.8% Fibonacci Retracement level (From 1018 to 575)