The Week Ahead – Stick Or Twist For The Fed?

UKOIL pushing higher

UKOIL remains supported at a 5-month high as traders await the next signal.

• This might not be the final upturn, as Middle East tensions remain on edge.

• With oil touching its highest price since May, UAE authorities also reported an oil spill.

• With more turbulence expected this week, the price is moving towards 120.00.

• 110.00 is now a critical support to maintain the uptrend.

AUDUSD remains bullish

The pair maintained its bullish momentum, with prices remaining above 0.7000.

• After a 100-pip jump, the Aussie is in control of the general direction.

• Signs of a resilient labor market could generate a further bullish reaction.

• The Australian central bank has raised its guidance to combat inflation.

• The pair is looking to test the 0.7100 resistance, with 0.6940 as a fresh support.

NAS 100 recouping losses

Last week’s sell-off saw traders hope for a reprieve as the Nasdaq shed over 3%.

• AI stocks are in focus as revived doubts crept in to ignite the downturn.

• As earnings season continues, it will be up to the big tech stocks to drive the indices.

• After shedding over 2000 points in recent sessions, the index will be hoping for support.

• The index will hope to test 30000, with 28400 being the immediate support.