Market Analysis 23 Jul 2025

In EURUSD, as precisely mentioned in Monday’s analysis, the price broke above 1.16920 and has started to increase and try to reach our bullish targets at 1.18420-1.18710, 1.19230 and 1.20040. The price might come back to test the 1.16920 zone for support before continuing its bullish trend, but if the 1.16920 or 1.15310 zone fails to support the price and it provides a close below 1.14450, it could then decrease toward the 1.13540–1.13750 zone.

In WTI, as precisely mentioned in Monday’s analysis, the 65.971-65.710 zone failed to act as support for the third time and subsequently moved toward our target at 64.690. Now this zone has acted as support once more, and it has started to increase toward 65.710, 68.360, 70.690 and 72.200. But if the 65.970-65.710 acts as resistance and pushes the price lower, then if the 64.690 or 63.900 zones also fail to stop 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 Monday’s analysis, the price continued to increase and provided a close above 3378, then reached our targets at 3384, 3398-3407, and 3429. Now if the price provides a close above 3440, then it could continue to increase toward 3448, 3490-3500, and 3580. But if the price decreases and the 3409-3401 zone fails to support the price and it provides a close below 3358, then it could start to decrease further toward the 3320, 3289, 3247, 3224-3213, and 3182-3173 zones.

In the S&P 500, as precisely mentioned in Monday’s analysis, the price continued its bullish trend and reached our target at 6326-6335. Now if the price breaks above the 6236-6335, it could continue to move toward 6361-6364 and 6418. But the price might face a resistance and come back to test the 6214–6227 zone once more, and if this zone fails to support the price, then it could decrease further toward our targets at 6177, 6132–6119, 6063, and 5973.