EURUSD pushes for an uptrend
The Euro continues its upward trajectory after the ECB keeps its interest rate unchanged to stabilise inflation. The pair saw a further uptick as prices tested 1.1560, which has become the next hurdle, and only a close above this level would maintain the rally towards 1.1680. Otherwise, a reversal would bring back the selling pressure and drive the euro towards 1.1450.
XAUUSD looking to bounce back
Gold looks for a reprieve after prices broke through the 4600 level after shedding over $500 in recent sessions. The metal appears to have found a floor at 4500, as the RSI is heavily oversold, leading to a slowdown in the downward momentum that sent gold to multi-week lows. However, prices still seem precarious with no confirmation yet of a turnaround, which would need a move above 4650. In the meantime, 4400 could be the next stop if another sell-off ensues.
UK 100 sliding lower
The FTSE corrected lower as sentiment remained subdued amid global conflicts. Prices now remain on a downward trajectory after bouncing off the 10450 area. In the short term, the 9840 zone looks to be the aim after a straight week of declines saw the 10000 level being tested. But 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 10200 will be the first level tested.