Energies
EURUSD continues its uptrend for the past three weeks, reaching a recent high around 1.1360. Since yesterday, the pair has been trading in a sideways/consolidation phase slightly below that high.
The moving averages MA(5) and MA(10) are still above the 30 moving average, indicating bullish momentum, but the gap is narrowing, signaling potential exhaustion or a pullback.
The MACD line is sloping downward, nearing a potential bearish crossover below the signal line.
While the trend is still technically bullish, momentum is fading. Watch for a MACD crossover or a break below the moving average M!(30) for a possible correction confirmation.
EURUSD 1H CHart
| Resistance | 1.1362 | 1.1385 | 1.1426 |
| Support | 1.1311 | 1.1287 | 1.1270 |
After forming a double top around $64.41, oil dropped noticably to around $61.00, now starting to recover slightly. The pattern shows a possible bearish reversal, but price is attempting a bounce back up
Moving average MA(5) is starting to cross above the MA(10) on the hourly chart possibly signaling early recovery. However, the 30 MA is still above current prices , confirming a short-term bearish trend.
MACD line is below the signal line, but both are turning upward.
Short-term bullish recovery is possible, but the overall trend remains bearish.
Watch for MACD crossover above the signal line or a clear break above the 30 MA to confirm any bullish continuation. A closure of 1H candle is necessary to confirm these signals.
West Texas Intermediate (USOUSD) 1H Chart
| Resistance | $61.94 | $62.29 | $63.12 |
| Support | $61.00 | $60.73 | $59.55 |
Gold shows a strong uptrend on the hourly chart. No major correction yet, only small pullbacks are seen
All MAs are trending upwards and confiring a strong bullish trend.
MACD line is above the signal line, however the distance is decreasing slightly.
Gold remains in a bullish trend, but watch for any MACD crossover or a break below the 10 or 30 moving averages to detect a trend reversal or pullback.
Gold (XAUUSD) 1H Chart
| Resistance | $3,348 | $3,370 | $3,416 |
| Support | $3,290 | $3,281 | $3,250 |
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