The S&P(SPX500) No signs of slowing
The S&P(SPX500) continues to push after hitting an all-time high, as tech shares rallied on artificial intelligence optimism. The combination of a resilient economy and earnings season getting off to a strong start helped provide a solid foundation for the market. If stocks can continue to outperform, there is every possibility for the bull rally to continue, with 6400 the next target. If there is a pullback, 5800 is the first support for bulls to catch their breath.
EURUSD on the edge
All eyes are on Donald Trump’s next move as the Euro markets are on edge, testing critical lows. The new President is expected to impose further tariffs against the backdrop of the strength of the US Dollar. While extreme market conditions hint at a possible rebound, any indication of US inflation risks could push the pair down even further. As the pair bounces away from the critical floor of 1.0200, this has become firm support, with 1.0500 the next resistance.
XAUUSD Is a Correction in Sight?
Gold traders are digesting the latest developments surrounding the US President’s recent plans. Bullion traders now brace for a set of top-tier US economic data releases this week, including the Fed’s next move on their monetary policy. The consensus is that they will hold, setting the tone for another lift in price action. A firm resistance at the previous solid candle at the 2760 has limited buys. The $2700 level still looks like it will be a firm support for now.
