EURUSD stuck sideways
 

(Click on image to enlarge)

The dollar remained volatile as soft inflation figures revived the possibility of the Fed continuing to cut rates. The pair had previously secured a solid holding above 1.1750 as prices continuously tested this level. A confirmation break above the said area could trigger strong momentum buying and open the door to a brief swing high towards 1.1800 at the previous false spike. As the RSI sticks to the neutral zone, a pullback towards 1.1680 might be necessary for buyers to catch their breath.
 

XAUUSD pushes higher
 

(Click on image to enlarge)

Gold hit its next peak as prices jumped another $50. On the chart, the price has bounced off the latest support at 4275. A close above the first hurdle at 4330 would ease the consolidation pressure and raise the odds that more buyers might jump in. The RSI’s dip into the neutral area could cause a temporary retreat as some intraday bulls exit. Any signs of exhaustion could lead to a test at 4300.
 

SPX 500 attempts a revival
 

(Click on image to enlarge)

The SPX remains pressured as traders look to rebalance their portfolios. A retreat from the record high towards 6900 was enough to deter the bullish fever and shift sentiment away from AI and tech stocks. A decisive bearish breakout has prompted several bulls to close their bets, paving the way for an extended rally. The base of the previous bounce at 6520 would be the first support to test the market’s resolve, with a close above 6800 needed to regain its composure.

More By This Author: