S&P (SPX500) bounces back
The S&P (SPX500) jumped higher as buyers looked to stop the sell-off in the index market. With stocks having their worst quarter in years due to the tariff chaos, a move above 5500 has lifted sentiment. With a bullish RSI developing, traders are hopeful of a turnaround in price action. A break above the daily resistance of 5780 could begin the comeback, with 5670 being the first target.
USDJPY seeking triple top
The US dollar grinds higher after moving away from the recent firm support. With Donald Trump’s ongoing tariff threats, price action moved against the Yen. A subsequent break above 150.00 triggered a short reversal as the pair attempted another move towards 151.00 at the previous double top. 150.25 is the next level to see if buyers are making a comeback, and failing that, 148.20 could be in the bears’ eyesight.
EURGBP double bottom lift
The euro is attempting a comeback as the pair looks to fight back against March’s downturn. From the chart’s perspective, the pair is still inching higher despite a choppy path. A break above 0.8360 continues to put intraday sellers on the defensive. The base of the recent double bottom at 0.8310 is a significant level to keep the directional bias up. Otherwise, a fall below that support could cause a bearish reversal. A daily close above 0.8400 would see the rally resume.
