EURUSD
Let's start today's analysis with the EURUSD chart. Looking at the weekly time frame, we can see that the pair broke above the resistance at 1.20, which confirmed that the pair remains in an upward trend. As long as the price sits above, continuation of an upward move is the base case scenario. The nearest resistance to watch lies at 1.2150, where the 78.6% Fibonacci retracement and a low from February 2018 can be found. In case the pair clears this hurdle, the next level to watch lies at the next Fibonacci measurement - 88.6%.
EURUSD W1 interval. Source: xStation5
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US tech index (US100) reached a fresh all-time high yesterday, but we can see a local correction move today. Looking at the H4 interval, we can see that the price sits at the resistance area at 12,400 pts. If sellers manage to take control, the lower limit of local upward channel near 12,065 pts could be the first potential target. In case we see a bigger downward correction, one should pay attention to horizontal support areas marked with green colour.On the other hand, the aforementioned 12,400 pts area is the last resistance visible on the chart and should the index break above, a move into an uncharted territory will be on the cards.
US100 H4 interval. Source: xStation5
GOLD
Gold market has been trading in a downward trend recently. However, one can see a dynamic upward correction today. If the current sentiment prevails, the earlier broken area at $1,850 could be at risk. However, in case of a strong rebound, one should keep in mind that the short-term sentiment remains bearish. If sellers manage to halt ongoing correccion at the aforementioned $1,850 handle, another downward impulse could be launched. On the other hand, breaking above it may open a way for a bigger upward move, with $1,895 resistance being a potential target.
Gold H4 interval. Source: xStation5
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