In EURUSD, we are witnessing another price increase and movement above our zone, and the price has tested our zone (1.04770-1.04630), and it has acted successfully as a support, so we might have eyes on our bullish targets at 1.05770 and 1.06540. Unless this zone fails to act as a support, the price can start to decrease toward 1.03180 and 1.01970. Traders should be cautious to see if this zone holds or not.
In EURGBP, as mentioned in Wednesday’s analysis, the price has received great support from the 0.82690 zone, which seems to be a double bottom pattern and is currently trying to break above its resistance at 0.82830. If the price surpasses this zone, then we might see a bullish trend for the upcoming week and movement toward targets at 0.85450 and 0.86220, but if we see a close below its current support at 0.82600, then we can have eyes on the 0.82230, which is a strong support zone.
In XAUUSD, as predicted in Wednesday's analysis, the price set a new ATH and reached our resistance zone at (2953-2957), and this zone pushed the price down for 3810 points. Now, due to the price's strong bullish desire, we might see another movement toward our (2953-2957) zone and (2975-2977); but if we saw a retracement sign at these levels, then we might see a price move toward 2900 and 2880. If we witness a candle close below 2860 in 4H, then we might accept that situation as the start of a retracement movement. Then the price can aim toward 2800 as well as 2758 and lower targets, but if the price keeps up its bullish momentum, then the price can go for a new high at 2973-2977 and 2996-2998.
As mentioned in Wednesday's analysis of the S&P 500, we saw good support from our citical zone at 6097 to 6107. But after the rumors about the new pandemic in China, the market reaction was mental, and we witnessed about 1 trillion dollar decline in stock market cap in just one day. And now the price is below this zone and is trying to reach this zone once more. If we saw a price pullback and resistance from this zone, we might see lower prices at 5840 and 5668, but if those rumors prove to be wrong, then the SPX can aim for higher highs at our 6215-6237 zone. So now traders should wait and see price movement and make informed decisions.
