Energies
EURUSD continues its uptrend as the pair reached its highest level since November 2021, though moving averages MA(5), MA(10), and MA(30) show mixed signals. Failure to close above 1.1640 this week, might push the pair lower. A correction to 1.1580 with bullish reversal candlesticks supports a continuation of the uptrend afterwards.
As long as the pair remains above 1.1444 then the overall view remains bullish.
EURUSD 4H Chart
| Resistance | 1.1641 | 1.1688 | 1.1721 |
| Support | 1.1580 | 1.1532 | 1.1500 |
Following the sharp declines in yesterday’s trading, gold recovered from $3,295 lows but still not showing strength. MACD is turning bullish again as moving averages MA(5) and MA(10) show crossover above MA(30) hinting at further upside movement. However, price needs to break above $3,370 to reverse short-term bearish trend.
The bias is still bearish in the short term unless we see a sustained move above $3,370.
Gold (XAUUSD) 1H Chart
| Resistance | $3,334 | $3,341 | $3,358 |
| Support | $3,320 | $3,316 | $3,295 |
US indices show strength as they near record highs. Dow Jones is trending upward breaking above 43,000 level. Price is still moving above the 30-period moving average, which supports bullish bias. Watch out for corrections toward the dynamic support MA(30), as it could push prices higher to 43,250.
Falling below 43,000 warns of further declines to 42,500 support level.
Dow Jones 1H chart
| Resistance | 43,187 | 44,230 | 44,367 |
| Support | 43,054 | 42,974 | 42,821 |
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