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Dear Clients,
We would like to remind you that Monday is Memorial Day in the United States. As a result, some markets will close early and certain financial instruments will be closed.
We would like to remind you that Monday is Memorial Day in the United States. As a result, some markets will close early and certain financial instruments will be closed.
FIVE THINGS TO KNOW
23/5/2025
🇬🇧British stocks opened higher on Friday, lifted by strong April retail sales (+5.0% YoY) and earnings from AJ Bell. As of 11:05 GMT+4, the FTSE 100 was up 0.2%, and GBP/USD rose 0.2% to 1.34.
🇯🇵Japan’s Nikkei 225 closed up 0.42% on Friday, led by gains in real estate, banking, and textiles. Top performers included Japan Steel Works (+10.05%), Mitsubishi Heavy Industries (+5.39%), and Nintendo (+5.36%).
🇩🇪Germany's economy grew 0.4% in Q1, this doubled the initial estimate and was driven by stronger exports and manufacturing. This marks its best performance since Q3 2022. The revision was due to unexpectedly strong March data, following contractions in the previous two years.
🥇Gold climbed toward $3,331 an ounce, up by about 4.1% this week and was driven by concerns over the U.S. deficit following Moody’s downgrade and Trump’s tax bill. The yellow metal has risen over 25% this year, supported by trade war fallout, fiscal worries, and steady central bank buying.
🇨🇦Canada’s March 2025 Retail Sales Report is set to be released today Friday, May 23, at 4:30 PM GMT+4. Retail Sales is forecasted to rise 0.7% month-over-month, rebounding from February’s 0.4% decline. While Core Retail Sales (excluding autos and gasoline) is expected to increase by 0.2% this is supported by stronger spending on food and beverages.
This release is closely watched as it may impact the Bank of Canada's next policy decision.
23/5/2025
🇬🇧British stocks opened higher on Friday, lifted by strong April retail sales (+5.0% YoY) and earnings from AJ Bell. As of 11:05 GMT+4, the FTSE 100 was up 0.2%, and GBP/USD rose 0.2% to 1.34.
🇯🇵Japan’s Nikkei 225 closed up 0.42% on Friday, led by gains in real estate, banking, and textiles. Top performers included Japan Steel Works (+10.05%), Mitsubishi Heavy Industries (+5.39%), and Nintendo (+5.36%).
🇩🇪Germany's economy grew 0.4% in Q1, this doubled the initial estimate and was driven by stronger exports and manufacturing. This marks its best performance since Q3 2022. The revision was due to unexpectedly strong March data, following contractions in the previous two years.
🥇Gold climbed toward $3,331 an ounce, up by about 4.1% this week and was driven by concerns over the U.S. deficit following Moody’s downgrade and Trump’s tax bill. The yellow metal has risen over 25% this year, supported by trade war fallout, fiscal worries, and steady central bank buying.
🇨🇦Canada’s March 2025 Retail Sales Report is set to be released today Friday, May 23, at 4:30 PM GMT+4. Retail Sales is forecasted to rise 0.7% month-over-month, rebounding from February’s 0.4% decline. While Core Retail Sales (excluding autos and gasoline) is expected to increase by 0.2% this is supported by stronger spending on food and beverages.
This release is closely watched as it may impact the Bank of Canada's next policy decision.
Gold Intraday: rebound.
Pivot: 3300.00
Our preference: long positions above 3300.00 with targets at 3345.00 & 3365.00 in extension.
Alternative scenario: below 3300.00 look for further downside with 3279.00 & 3265.00 as targets.
Comment: the RSI shows upside momentum.
Supports and resistances:
3385.00
3365.00
3345.00
3330.48 Last
3300.00
3279.00
3265.00
https://charts.tradingcentral.com/charts/169_20250523090120.gif
Pivot: 3300.00
Our preference: long positions above 3300.00 with targets at 3345.00 & 3365.00 in extension.
Alternative scenario: below 3300.00 look for further downside with 3279.00 & 3265.00 as targets.
Comment: the RSI shows upside momentum.
Supports and resistances:
3385.00
3365.00
3345.00
3330.48 Last
3300.00
3279.00
3265.00
https://charts.tradingcentral.com/charts/169_20250523090120.gif
Crude Oil (WTI) (N5) Intraday: the bias remains bullish.
Pivot: 60.30
Our preference: long positions above 60.30 with targets at 61.30 & 61.75 in extension.
Alternative scenario: below 60.30 look for further downside with 59.50 & 58.80 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
62.20
61.75
61.30
60.72 Last
60.30
59.50
58.80
https://charts.tradingcentral.com/charts/174_20250523090454.gif
Pivot: 60.30
Our preference: long positions above 60.30 with targets at 61.30 & 61.75 in extension.
Alternative scenario: below 60.30 look for further downside with 59.50 & 58.80 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
62.20
61.75
61.30
60.72 Last
60.30
59.50
58.80
https://charts.tradingcentral.com/charts/174_20250523090454.gif
EUR/USD Intraday: further advance.
Pivot: 1.1310
Our preference: long positions above 1.1310 with targets at 1.1360 & 1.1380 in extension.
Alternative scenario: below 1.1310 look for further downside with 1.1280 & 1.1255 as targets.
Comment: the RSI is bullish and calls for further upside.
Supports and resistances:
1.1425
1.1380
1.1360
1.1341 Last
1.1310
1.1280
1.1255
https://charts.tradingcentral.com/charts/74_20250523105430.gif
Pivot: 1.1310
Our preference: long positions above 1.1310 with targets at 1.1360 & 1.1380 in extension.
Alternative scenario: below 1.1310 look for further downside with 1.1280 & 1.1255 as targets.
Comment: the RSI is bullish and calls for further upside.
Supports and resistances:
1.1425
1.1380
1.1360
1.1341 Last
1.1310
1.1280
1.1255
https://charts.tradingcentral.com/charts/74_20250523105430.gif
Crude Oil (WTI) (N5) Intraday: intraday support around 60.30.
Pivot: 60.30
Our preference: long positions above 60.30 with targets at 61.30 & 61.75 in extension.
Alternative scenario: below 60.30 look for further downside with 59.50 & 58.80 as targets.
Comment: the RSI is mixed and calls for caution.
Supports and resistances:
62.20
61.75
61.30
60.78 Last
60.30
59.50
58.80
https://charts.tradingcentral.com/charts/174_20250523111955.gif
Pivot: 60.30
Our preference: long positions above 60.30 with targets at 61.30 & 61.75 in extension.
Alternative scenario: below 60.30 look for further downside with 59.50 & 58.80 as targets.
Comment: the RSI is mixed and calls for caution.
Supports and resistances:
62.20
61.75
61.30
60.78 Last
60.30
59.50
58.80
https://charts.tradingcentral.com/charts/174_20250523111955.gif
Gold Intraday: bullish bias above 3280.00.
Pivot: 3280.00
Our preference: long positions above 3280.00 with targets at 3345.00 & 3368.00 in extension.
Alternative scenario: below 3280.00 look for further downside with 3257.00 & 3236.00 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
3385.00
3368.00
3345.00
3326.44 Last
3280.00
3257.00
3236.00
https://charts.tradingcentral.com/charts/169_20250523112146.gif
Pivot: 3280.00
Our preference: long positions above 3280.00 with targets at 3345.00 & 3368.00 in extension.
Alternative scenario: below 3280.00 look for further downside with 3257.00 & 3236.00 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
Supports and resistances:
3385.00
3368.00
3345.00
3326.44 Last
3280.00
3257.00
3236.00
https://charts.tradingcentral.com/charts/169_20250523112146.gif
EUR/USD Intraday: further upside.
Pivot: 1.1325
Our preference: long positions above 1.1325 with targets at 1.1360 & 1.1380 in extension.
Alternative scenario: below 1.1325 look for further downside with 1.1305 & 1.1285 as targets.
Comment: the RSI is bullish and calls for further upside.
Supports and resistances:
1.1425
1.1380
1.1360
1.1349 Last
1.1325
1.1305
1.1285
https://charts.tradingcentral.com/charts/74_20250523125933.gif
Pivot: 1.1325
Our preference: long positions above 1.1325 with targets at 1.1360 & 1.1380 in extension.
Alternative scenario: below 1.1325 look for further downside with 1.1305 & 1.1285 as targets.
Comment: the RSI is bullish and calls for further upside.
Supports and resistances:
1.1425
1.1380
1.1360
1.1349 Last
1.1325
1.1305
1.1285
https://charts.tradingcentral.com/charts/74_20250523125933.gif
Crude Oil (WTI) (N5) Intraday: continuation of the rebound.
Pivot: 60.65
Our preference: long positions above 60.65 with targets at 61.75 & 62.50 in extension.
Alternative scenario: below 60.65 look for further downside with 60.30 & 60.10 as targets.
Comment: the RSI is bullish and calls for further upside.
Supports and resistances:
62.55
62.50
61.75
61.28 Last
60.65
60.30
60.10
https://charts.tradingcentral.com/charts/174_20250523131646.gif
Pivot: 60.65
Our preference: long positions above 60.65 with targets at 61.75 & 62.50 in extension.
Alternative scenario: below 60.65 look for further downside with 60.30 & 60.10 as targets.
Comment: the RSI is bullish and calls for further upside.
Supports and resistances:
62.55
62.50
61.75
61.28 Last
60.65
60.30
60.10
https://charts.tradingcentral.com/charts/174_20250523131646.gif
Gold Intraday: further advance.
Pivot: 3320.00
Our preference: long positions above 3320.00 with targets at 3370.00 & 3415.00 in extension.
Alternative scenario: below 3320.00 look for further downside with 3280.00 & 3245.00 as targets.
Comment: the immediate trend remains up and the momentum is strong.
Supports and resistances:
3435.00
3415.00
3370.00
3345.00 Last
3320.00
3280.00
3245.00
https://charts.tradingcentral.com/charts/169_20250523135418.gif
Pivot: 3320.00
Our preference: long positions above 3320.00 with targets at 3370.00 & 3415.00 in extension.
Alternative scenario: below 3320.00 look for further downside with 3280.00 & 3245.00 as targets.
Comment: the immediate trend remains up and the momentum is strong.
Supports and resistances:
3435.00
3415.00
3370.00
3345.00 Last
3320.00
3280.00
3245.00
https://charts.tradingcentral.com/charts/169_20250523135418.gif
EUR/USD Intraday: key resistance at 1.1380.
Pivot: 1.1380
Our preference: short positions below 1.1380 with targets at 1.1285 & 1.1255 in extension.
Alternative scenario: above 1.1380 look for further upside with 1.1425 & 1.1460 as targets.
Comment: as long as 1.1380 is resistance, look for choppy price action with a bearish bias.
Supports and resistances:
1.1460
1.1425
1.1380
1.1314 Last
1.1285
1.1255
1.1215
https://charts.tradingcentral.com/charts/74_20250523140016.gif
Pivot: 1.1380
Our preference: short positions below 1.1380 with targets at 1.1285 & 1.1255 in extension.
Alternative scenario: above 1.1380 look for further upside with 1.1425 & 1.1460 as targets.
Comment: as long as 1.1380 is resistance, look for choppy price action with a bearish bias.
Supports and resistances:
1.1460
1.1425
1.1380
1.1314 Last
1.1285
1.1255
1.1215
https://charts.tradingcentral.com/charts/74_20250523140016.gif
Crude Oil (WTI) (N5) Intraday: consolidation in place.
Pivot: 61.30
Our preference: short positions below 61.30 with targets at 59.85 & 59.55 in extension.
Alternative scenario: above 61.30 look for further upside with 61.75 & 62.20 as targets.
Comment: as long as 61.30 is resistance, look for choppy price action with a bearish bias.
Supports and resistances:
62.20
61.75
61.30
60.52 Last
59.85
59.55
58.90
https://charts.tradingcentral.com/charts/174_20250523143104.gif
Pivot: 61.30
Our preference: short positions below 61.30 with targets at 59.85 & 59.55 in extension.
Alternative scenario: above 61.30 look for further upside with 61.75 & 62.20 as targets.
Comment: as long as 61.30 is resistance, look for choppy price action with a bearish bias.
Supports and resistances:
62.20
61.75
61.30
60.52 Last
59.85
59.55
58.90
https://charts.tradingcentral.com/charts/174_20250523143104.gif
Crude Oil (WTI) (N5) Intraday: key resistance at 61.30.
Pivot: 61.30
Our preference: short positions below 61.30 with targets at 59.85 & 59.55 in extension.
Alternative scenario: above 61.30 look for further upside with 61.75 & 62.20 as targets.
Comment: the upward potential is likely to be limited by the resistance at 61.30.
Supports and resistances:
62.20
61.75
61.30
60.88 Last
59.85
59.55
58.90
https://charts.tradingcentral.com/charts/174_20250523154706.gif
Pivot: 61.30
Our preference: short positions below 61.30 with targets at 59.85 & 59.55 in extension.
Alternative scenario: above 61.30 look for further upside with 61.75 & 62.20 as targets.
Comment: the upward potential is likely to be limited by the resistance at 61.30.
Supports and resistances:
62.20
61.75
61.30
60.88 Last
59.85
59.55
58.90
https://charts.tradingcentral.com/charts/174_20250523154706.gif
Gold Intraday: further advance.
Pivot: 3320.00
Our preference: long positions above 3320.00 with targets at 3370.00 & 3395.00 in extension.
Alternative scenario: below 3320.00 look for further downside with 3280.00 & 3245.00 as targets.
Comment: the next resistances are at 3370.00 and then at 3395.00.
Supports and resistances:
3415.00
3395.00
3370.00
3347.06 Last
3320.00
3280.00
3245.00
https://charts.tradingcentral.com/charts/169_20250523154705.gif
Pivot: 3320.00
Our preference: long positions above 3320.00 with targets at 3370.00 & 3395.00 in extension.
Alternative scenario: below 3320.00 look for further downside with 3280.00 & 3245.00 as targets.
Comment: the next resistances are at 3370.00 and then at 3395.00.
Supports and resistances:
3415.00
3395.00
3370.00
3347.06 Last
3320.00
3280.00
3245.00
https://charts.tradingcentral.com/charts/169_20250523154705.gif
EUR/USD intraday : as long as 1.1290 is support look for 1.1394
Our pivot point is at 1.1290.
Our preference: as long as 1.1290 is support look for 1.1394
Alternative scenario: below 1.1290, expect 1.1259 and 1.1241.
Comment: the RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The price could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.1332 and 1.1305).
Supports and resistances:
1.1431 **
1.1413 *
1.1394 **
1.1376
1.1334 last
1.1302
1.1290 **
1.1259 *
1.1241 **
https://charts.tradingcentral.com/charts/74_20250523144556.gif
Our pivot point is at 1.1290.
Our preference: as long as 1.1290 is support look for 1.1394
Alternative scenario: below 1.1290, expect 1.1259 and 1.1241.
Comment: the RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The price could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.1332 and 1.1305).
Supports and resistances:
1.1431 **
1.1413 *
1.1394 **
1.1376
1.1334 last
1.1302
1.1290 **
1.1259 *
1.1241 **
https://charts.tradingcentral.com/charts/74_20250523144556.gif
Crude Oil (WTI) (N5) Intraday: intraday support around 60.95.
Pivot: 60.95
Our preference: long positions above 60.95 with targets at 62.20 & 62.55 in extension.
Alternative scenario: below 60.95 look for further downside with 60.30 & 59.55 as targets.
Comment: the next resistances are at 62.20 and then at 62.55.
Supports and resistances:
62.95
62.55
62.20
61.63 Last
60.95
60.30
59.55
https://charts.tradingcentral.com/charts/174_20250523172518.gif
Pivot: 60.95
Our preference: long positions above 60.95 with targets at 62.20 & 62.55 in extension.
Alternative scenario: below 60.95 look for further downside with 60.30 & 59.55 as targets.
Comment: the next resistances are at 62.20 and then at 62.55.
Supports and resistances:
62.95
62.55
62.20
61.63 Last
60.95
60.30
59.55
https://charts.tradingcentral.com/charts/174_20250523172518.gif
Gold Intraday: further advance.
Pivot: 3320.00
Our preference: long positions above 3320.00 with targets at 3370.00 & 3395.00 in extension.
Alternative scenario: below 3320.00 look for further downside with 3280.00 & 3245.00 as targets.
Comment: the next resistances are at 3370.00 and then at 3395.00.
Supports and resistances:
3415.00
3395.00
3370.00
3352.97 Last
3320.00
3280.00
3245.00
https://charts.tradingcentral.com/charts/169_20250523172344.gif
Pivot: 3320.00
Our preference: long positions above 3320.00 with targets at 3370.00 & 3395.00 in extension.
Alternative scenario: below 3320.00 look for further downside with 3280.00 & 3245.00 as targets.
Comment: the next resistances are at 3370.00 and then at 3395.00.
Supports and resistances:
3415.00
3395.00
3370.00
3352.97 Last
3320.00
3280.00
3245.00
https://charts.tradingcentral.com/charts/169_20250523172344.gif
