EUR/USD Holds $1.0954 – Bullish Structure Remains Intact
EUR/USD stays above $1.0954 support after rejecting $1.1150. RSI at 61.25 keeps momentum positive, with bulls eyeing another upside push.
EUR/USD continues to display relative strength, with buyers defending the key $1.0954 support level despite recent market volatility. The pair remains in a clear uptrend, trading above the Keltner Channel’s baseline, which supports the broader bullish structure. After failing to hold above $1.1150, price retraced but found renewed demand near $1.0954. The RSI at 61.25 confirms ongoing bullish momentum, suggesting that a renewed attempt at $1.1150 is likely if risk sentiment improves or the dollar weakens. A break below $1.0954 could shift the short-term bias to neutral, with $1.0731 as the next major support.
GBPUSD
GBP/USD Rejected at $1.3100 – Bull Trap or Deeper Shift?
GBP/USD reverses from $1.3100 to $1.2865, invalidating breakout. RSI drops to 38.21. Bearish pressure builds below $1.3015 resistance.
GBP/USD experienced a sharp intraday reversal after failing to hold above the $1.3080–$1.3100 resistance zone, forming a potential bull trap. Price retreated to test support at $1.2865, invalidating the prior breakout. The Keltner Channel, which had signaled bullish strength earlier, has now flipped red, confirming the rejection. Meanwhile, RSI plunged from overbought levels to 38.21, signaling a full momentum shift to the downside.
The pair now trades between $1.2865 support and $1.3015 resistance. A break below $1.2865 could target the $1.2713 demand zone, while only a sustained move above $1.3015, and ideally $1.3080, would revive the bullish outlook. For now, structure leans neutral-to-bearish, with rallies into resistance zones likely to attract sellers.
XAUUSD
Gold Tests $3,005 After Rejection – Is a Deeper Pullback Ahead?
Gold falls from $3,148, breaks $3,089 support, and tests $3,005. RSI at 31.80 hints at bounce, but bearish momentum dominates.
Gold (XAU/USD) retraced sharply after hitting the $3,148 resistance, breaking through key support at $3,089 and settling around the $3,005–$3,022 zone. This pullback pushed price below the Keltner Channel’s midline, entering the red band, signaling a shift to bearish momentum. The RSI sits at 31.80, just above oversold, hinting at a potential near-term bounce, though no confirmed reversal has formed yet.
The $3,005 level is now pivotal. If it holds, a retest of $3,056–$3,089 could follow. However, a breakdown below this zone opens the path toward $2,955, marking what could be the first major correction since the March rally. For bulls to reclaim momentum, price needs a close back above $3,089 and reentry into the green Keltner band.
XAGUSD
Silver Breaks Down to $30 – Bearish Reversal or Oversold Bounce?
Silver plunges below $32.74 support toward $30. RSI at 21.36 hints at bounce, but structure remains bearish below $31.50 resistance.
Silver (XAG/USD) saw a violent sell-off, collapsing from the $33.37 support and breaking aggressively through $32.74, plunging toward the $30 psychological level. A wick near $28 shows weak buyer defense, while price now trades around $29.92. The Keltner Channel flipped bearish, with price decisively below the red cloud, confirming a trend reversal rather than a pullback.
Short-term resistance now forms around $31.35–$31.50, aligning with the lower Keltner boundary. Unless this zone is reclaimed, any bounce may remain corrective. RSI at 21.36 signals oversold conditions, suggesting a technical rebound is possible, but the damage to the trend is significant. A breakdown below $29.00 exposes $28.00 and $27.50, while bulls would need a strong recovery above $32.74 to regain control.
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