Sharp Reversals and Breakouts Amid USD Volatility

XAGUSD (Silver/USD) Analysis

Silver Breaks Down Aggressively – Bearish Momentum Builds

Silver falls below 32.746 after rejecting 34.218. RSI is oversold near 21.71, but lack of divergence keeps downside pressure intact.

Silver (XAG/USD) has broken down sharply after a rejection from the 34.218 resistance and a failed retest of the middle range near 33.683. The drop below key support at 32.746 confirms strong bearish momentum, now reinforced by a red Supertrend flip. Although the RSI is oversold at 21.71, no bullish divergence has formed, keeping the bias tilted to the downside for now. A reaction from lower zones is possible, but bears remain in control unless key levels are reclaimed.

XAUUSD (Gold/USD) Analysis

Gold Rejected from $3,148 – Short-Term Trend Shift in Play?

Gold drops sharply from $3,148, testing $3,056–$3,086 support. Falling RSI and trendline break signal possible reversal or consolidation.

Gold (XAU/USD) faced a strong rejection from the $3,148 resistance zone, marking a potential short-term top. Price quickly pulled back to test support at $3,086, briefly wicking below $3,056 before rebounding. This move was accompanied by a sharp decline in RSI, dropping from overbought to 42.92, indicating profit-taking and weakening momentum. The break below trend-following support (likely Supertrend or similar) adds technical vulnerability, unless the price reclaims and holds above $3,148 in the near term.

GBPUSD Analysis

GBP/USD Breaks Out Above 1.302 – Overbought, But Bullish

GBP/USD breaks 1.302 with strong momentum. RSI at 80.83 signals overbought conditions, but breakout confirms trend continuation.

GBP/USD has broken decisively above the 1.302 resistance, confirming a bullish breakout from the previous consolidation range between 1.286 and 1.302. The move was accompanied by a strong bullish candle and a surge in RSI to 80.83, indicating extreme overbought conditions. This reflects strong buying pressure, potentially fueled by macroeconomic factors or USD weakness. While the breakout supports bullish continuation, traders should remain cautious of short-term corrections due to the stretched momentum indicators.

EURUSD Analysis

EUR/USD Surges Above 1.095 – Overbought but Bullish Trend Intact

EUR/USD breaks above 1.095 and rallies to 1.109. RSI at 86.61 signals potential pullback, though trend remains bullish.

EUR/USD confirmed a breakout above the 1.095 resistance, accelerating sharply toward 1.109. The move is backed by strong momentum, but the RSI at 86.61 signals extreme overbought conditions, raising the possibility of a short-term pullback or consolidation. However, the trend-following indicator remains green, confirming that bullish trend continuation is intact unless a sharp reversal takes place. Any dip toward 1.095 may now find support from the prior breakout zone.