In EURUSD, we are still in our last week gap area, and the price is moving in a trading range within our two support and resistance levels. Our last week's zone, which was 1.02150-1.01910, is crucial, but maybe after CPI and PPI data releases, we might see finally a move beyond these two zones, but for now the price is moving towards 1.04460 once more. We also need to look out for the zone 1.04800 that has rejected the price twice, and this time as well it can act as a QM level, but if we saw a break above this zone, then we could have eyes on 1.05580. Also, if the price break our support zone and we see a close below this level 1.01910, then we can have eyes on our targets at 1.00850 and 1.00680
In EURGBP, price is still near our support zone; we must wait and see price reaction to our support zone 0.83210, then we can wait for our stronger supports like the 0.82230 But we have two price targets if we see strong bullish continuation in price; these are 0.85450 and 0.86220.
In XAUUSD we saw a new all-time high on Tuesday, and it hit our targets. Now, after a fake breakout from our zone of 2920, we might see a reversal in price if this zone holds as resistance. If we saw a pullback to our 2879-2874 zone, which has become a support zone, we might see price continuation toward higher highs and targets at 2973-2977 and 2996-2998, and also our final target can be at 3031-3027. Also, this week we have many important economic reports such as CPI and PPI; therefore, the market can be quite volatile, but if the downtrend starts, we have our targets and supports as Monday Analysis. As mentioned, we had a support at 2781-2787; we also have some targets for bearish movements at 2815 and 2790.
As mentioned in Monday'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, which was 6097 to 6107, which for the second time acted as a strong resistance and pushed the price downward. But now we must wait and see price reaction to Powell's testimony and CPI and PPI reports. which can have a high impact on markets. We also have targets for price at 6215 and 6237 if we see a close above this 6107 zone, 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.
