LOOK AHEAD: Eurozone Timeline of Key Events (Times BST)

• RES 4: 1.2063 2.236 proj of the Feb 28 - Mar 18 - 247 price swing
• RES 3: 1.2000 Round number resistance 
• RES 2: 1.1923 2.00 proj of the Feb 28 - Mar 18 - 247 price swing
• RES 1: 1.1919 High Sep 17 and key short-term resistance 
• PRICE: 1.1732 @ 06:13 BST Sep 22
• SUP 1: 1.1726/1667 Intraday low / 50-day EMA 
• SUP 2: 1.1574 Low Aug 27
• SUP 3: 1.1528 Low Aug 5
• SUP 4: 1.1392 Low Aug 1 and bear trigger.

The trend theme in EURUSD remains bullish and S/T weakness is considered corrective. Resistance at 1.1743, the Aug 22 high, has recently been cleared, reinforcing a bull cycle. Gains in the first half of last week resulted in a climb above 1.1829 the Jul 01 high and bull trigger. Clearance of this hurdle confirms a resumption of the primary uptrend and opens 1.1923 next, a Fibonacci projection. Support to watch is 1.1667. the 50-day EMA.

• Oil rose Monday, after a very poor finish last week.  WTI is up +0.64% to USD$63.08 bbl and Brent is up +0.66% to USD$67.12 bbl in the Asia trading day.
• Late Friday the EU President indicated the latest move is to target refineries, traders and petrochemical companies that are still buying Russian oil in a bid to starve Moscow and end the war in Ukraine.  China and India remain the highest profile of buyers but the EU seems intent on casting the net much wider.  
• This comes as French President Macro describes the EU's reliance on Russia now as 'marginal' as Trump continues to pressure Europe to eradicate Russian purchases.   
• The EU has already passed a ban that will prohibit importing petroleum products refined from Russia crude starting next year, and the bloc is discussing banning imports of Russian liquefied natural gas from 2027.
• WTI remains firmly below all major moving averages today, despite the gains. 

• Gold is reaching yet another new high as it rises +0.21% today to USD$3,693.00.  The recent cut in interest rates gave a further boost to gold, already with strong upward momentum with traders now pouring over Chairman Powell's comments for clues as to the next move.  
• At $3,693 gold is above all major moving averages with the 20-day of $3,588.90 below.