Intraday analysis covering EURUSD, Gold price analysis, and WTI crude oil, highlighting recent price movements, key technical levels, and short-term momentum shifts across major markets.
EURUSD attempting to bounce
The euro jumped higher after finding support amid a sell-off.
- On the chart, the pair is attempting to hold on to the 1.1600 level after a push towards 1.1660 was firmly rejected.
- The bullish action around this major level has kept overall sentiment upbeat.
- On the downside, any signs of a bearish RSI divergence could pull prices back towards 1.1540, potentially triggering a continuous reversal.
XAUUSD breaking lower
Gold price analysis:
Gold moved lower by $200 in recent sessions as prices bounced away from the 4500 level.
- Despite repeated attempts to move higher, 4460 has held as critical resistance.
- The door is now open for a bearish extension towards 4300.
- As the RSI moves towards the oversold area, any chance of a turnaround first needs a break above 4460 before 4570 can be tested.
USOIL feeling the pressure
WTI crude oil fell by more than 3% in recent trading amid ongoing geopolitical tensions. The price has given up some of its monthly gains, and the bearish bias could attract additional selling.
- A drop below the psychological level of 90.00 will be a warning sign that sellers are still in control and could lead to a deeper correction in the weeks to come.
- 88.00 is the first support, and a turnaround can only happen with a break above 92.85.
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