Despite the long-term trend on EURUSD, the pair is showing bearish correction on the hourly chart as it broke below 1.1500 which might accelerate the downward movement toward the support level 1.1427 with the dollar index (DXY) breaking above 99.00
Price is currently facing resistance at the moving averages MA(5) and MA(10). As the MA(30) continues slopping downward, prices are expected to decline further.
Eyes on the dynamic resistance level MA(30) around 1.1500 psychological level.
| Resistance | 1.1485 | 1.1530 | 1.1565 |
| Support | 1.1427 | 1.1400 | 1.1374 |
Gold is correcting downward from its recent high $3,453. The short term trend is turning bearish after a strong bullish wave. Lower highs and lower lows are starting to form on the 4H chart. And a bearish crossover is seen on MACD.
Price broke below the 30-period moving average, confirming short term downtrend.
If gold breaks below $3,350, expect more downside movements towards $3,280 – $3,300.
| Resistance | $3,387 | $3,405 | $3,423 |
| Support | $3,339 | $3,319 | $3,307 |
Oil prices continue to climb as West Texas Intermediate shows strong uptrend but faces resistance at $77.35.
Price is still moving above the 30-period moving average, indicating the uptrend is still healthy.
The overview of USOUSD is still bullish, but momentum is weakening. A break above $77.35 would resume the rally. If it breaks below $73.00, we could see a deeper pullback.
| Resistance | $74.00 | $74.60 | $75.24 |
| Support | $72.03 | $70.76 | $69.58 |
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