FTSE(UK 100) sliding lower
The FTSE(UK 100) corrected lower as sentiment shifted over possible tariffs from the US. Prices now remain on a downward trajectory after bouncing off the 8900 area. In the medium term, the 8800 zone looks to be the aim after a straight week of declines, with the 8760 level being tested. However, price action could struggle with the RSI, showing signs of inaction as the index reaches a new low. A pullback would allow the bulls to catch their breath, and 8840 would be the first level to be tested
EURUSD continues the uptrend
The Euro continues its progression after Germany announced a €500 billion off-budget fund to finance infrastructure projects. The pair saw a further uptick as prices tested the 1.0800 level, which has become the next hurdle ahead, and only a close above 1.0835 would maintain the rally. Otherwise, a drop below 1.0765 would bring back the selling pressure and drive the Euro towards 1.0700.
XAUUSD looking to bounce back
Gold attempted a full retracement as prices broke through the 2900 level. The metal looks to have found a floor at 2910 after the RSI was previously majorly oversold. This has seen a slowdown in the downward momentum that saw gold hit multi-week lows. However, prices still seem precarious, with no confirmation yet of a turnaround, which would need a move above 2940. In the meantime, 2885 could be the next stop if another sell-off ensues.