In EURUSD, as mentioned in Wednesday’s analysis, the price is still trading between 1.16920-1.16460 and 1.18420. If the 1.18420 level acts as resistance, the price could start to decrease and return to test either the 1.16920-1.16460 zone or the 1.15310-1.14550 zone before moving toward its bullish targets at 1.18420 and 1.20040. If this zone also fails to support the price and a close below 1.14450 occurs, it could then decrease toward the 1.13540-1.13750 zone.
In WTI, as mentioned in Wednesday’s analysis, the price finally broke above this trading range (63.900–65.700) and increased toward our target of 65.970. Now the price has returned to test the 64.690 zone and if it acts as support, then it could increase further toward 65.970, 68.360 and 70.690. But if the 64.690 or 63.900 zones fail to support the price and it provides a close below 63.400, it could decrease further toward 62.770-62.300 and 59.200-58.840.
In XAUUSD, as precisely mentioned in Wednesday’s analysis, after facing a resistance at 3358 zone, the 3345-3334 zone failed to act as support, and after the S/R flip, it has acted as resistance and has sent the price lower toward our targets at 3289, 3247, 3224-3213, and 3182-3173. But if this zone acts as support and price continues to increase and break above 3358, it could reach our targets at 3368, 3384, 3398-3407, 3429, and 3448, 3492-3501.
In the S&P 500, as precisely mentioned in Wednesday’s analysis, the price reached our target at 6214-6227 and has broken above it. Now the price has returned to test the 6214-6227 zone for support to continue to move toward our bullish targets at 6300 and 6335. But if the 6214-6227 fails to support the price, then it could decrease further to receive support from either of the 6177, 6132-6119, and 6063. But if these zones also fail to support the price and it provides a close below 5975, then it could decrease toward the 5896-5875, 5815-5788, and 5690-5672 zones.
