In EURUSD, as precisely mentioned in Monday’s analysis, the price was unable to close above 1.14350 and has returned to test the 1.12890-1.12750 zone. Now if this zone holds and the price breaks above the 1.13540 zone with a close above 1.14350, then it could reach the 1.14950–1.15310, 1.16460–1.16920, and 1.18420 zones. But if the price comes below the 1.11670 zone and breaks it with a close below 1.11300, then it could decrease further toward 1.10060, 1.09370, and even the 1.0800 zone.
In WTI, the situation has remained unchanged since Monday’s analysis; the price continued to retrace some of its movement. But it has not provided a close below 59.800 yet; if it happens, then it could move toward the 59.200-58.800 and 58.140-57.600 zones to receive support from them. But if it increases once more toward the 62.300-62.770 and breaks above it, then it could reach our next targets at the 65.700-65.970 and 68.280-68.500 zones.
In XAUUSD, as precisely mentioned in Monday’s analysis, the price has come back to retest the 3304-3289 zone in order to start a move toward the 3384, 3393-3405, and 3448 zones. However, if the 3304-3289 zone fails to support the price, the retracement may deepen, leading the price to test either the 3239–3247 or 3220–3211 zones. If these zones also fail to provide support, we could see a close below 3150, which would indicate a further decline toward the 3112–3097, 3077, 3054, and 2996–2988 zones.
In the S&P 500, as mentioned in Wednesday’s analysis, the price was unable to provide a close below 5740 and has started to move toward our target at 5930-5917, and if it breaks above the 5973 zone in order to continue its bullish trend, then it could reach the 6041-6068 and 6120-6136 zones. However, if the 5930 zone acts as resistance and pushes the price lower with a close below 5740, it could continue to fall toward 5692-5674; if this zone fails to support the price and we see a close below the 5571 zone, it could fall further toward the 5269-5227, 5115, and 5010-4947 zones.
