For the upcoming week in EURUSD, we have four zones to watch. The first is 1.04518, which acted as great resistance as we guessed in last week's analysis and pushed the price downward. With a massive price gap that has happened during the weekend, we need to be more cautious due to the uncertainty in the market. But we have the 1.02154-1.01910 zone, which can be critical for the EURUSD. If this zone holds as resistance, we can see a trading range in the upcoming week, but if we see a break below this zone, then we should see a bearish trend moving toward two price targets at 1.08420 and 0.99910.
In EURGBP we have a zone that can act as resistances: 0.82809 - 0.82914. If this zone breaks, then the price can decrease and reach to stronger supports like the 0.82236 But we have two price targets if we see a strong support from the first support; these are 0.85458 and 0.86220.
As predicted, XAUUSD has had a strong uptrend move and set a new ATH in the past week, and we saw a good rejection from the zone we analyzed (2812) last week. But in the meantime, we have a support at 2781-2787, which was the last ATH and pushed the price down for 500 pips when the price reached it last week. But if this zone holds and price goes higher, and you see a strong break above this zone, then the 2884 is within reach. We have targets in 2840.56 to 2845.51, as well as one other target in 2874.45. But if we see a rejection from any of these zones, we have two important support levels at 2702.81 and 2645.89, which can attract the price to themselves before aiming for higher prices.
As mentioned in last week's analysis of the S&P500 , we are in a bullish uptrend, but there is a critical zone for the price before reaching the previous ATH, that was 6097 to 6107 which acted as a strong resistance and pushed the price 1980 points downward with a massive gap that shows us there is so much uncertainty in the market. If we see a breakout from this zone, we have targets for price at 6215 and 6237, but if we see prices keep their bearish movements, the price can decrease and reach 5840. and we have a strong level for the full pullback at 5668, which can be critical. If it holds up, the price can go higher, and if we have a strong close below this level, we can see the start of a short-term bearish trend.
