EURUSD
In analyzing the EURUSD across multiple timeframes—4-hour (4H), 15-minute (15M), and daily (1D)—a nuanced view of the market trends emerges. On the 4-hour chart, the RSI is positioned at 36.17, indicating a bearish trend as the indicator is in the lower range, suggesting continued selling pressure. The volume on this timeframe is significant at 35.104K, reflecting robust market activity. The Supertrend levels here are set at 1.11233 for resistance and 1.10233 for support, with the price currently below the resistance level, reinforcing the bearish sentiment.
Moving to the 15-minute chart, the RSI stands at 44.71, which is closer to neutral and indicates a potential for sideways movement in the short term. The volume is relatively lower at 2.362K, suggesting less trading activity compared to the longer timeframes. The Supertrend levels on this timeframe are at 1.10571 for resistance and 1.09571 for support, with the price trading near these levels, pointing to short-term consolidation.
On the daily chart, the RSI is at 53.17, reflecting a neutral stance over the long term. The volume is significantly higher at 106.832K, indicating strong market engagement. The Supertrend levels are set at 1.09765 for support and 1.11765 for resistance, with the price currently situated between these levels. This suggests a prevailing sideways trend over the longer term, despite the bearish signals on the shorter timeframes.
Overall, the analysis indicates that in the short term, the market may exhibit a sideways movement as seen on the 15-minute chart, while the 4-hour and daily charts suggest a continuing bearish trend. The RSI readings and Supertrend levels across these timeframes provide insight into a complex market scenario where the short-term fluctuations are contrasted by a longer-term bearish outlook.
GBPUSD
Analyzing the GBPUSD across various timeframes reveals a multi-faceted view of the market trends. On the 15-minute chart, the RSI is at 46.16, indicating a neutral position that suggests potential sideways movement in the short term. The volume is relatively modest at 3.906K, and the Supertrend levels are set at 1.30972 for resistance and 1.29972 for support, with the price trading between these levels, reflecting a period of consolidation.
In contrast, the 4-hour chart shows a lower RSI of 37.58, signaling a bearish trend as the indicator falls into the lower range, suggesting ongoing selling pressure. The volume is significantly higher at 53.198K, indicating strong market participation. The Supertrend levels here are 1.31893 for resistance and 1.30893 for support, with the price trading near the support level, reinforcing the bearish outlook.
On the daily chart, the RSI is higher at 56.44, indicating a bullish trend over the long term as the indicator is in the upper range. The volume is even higher at 151.414K, reflecting substantial market activity. The Supertrend levels are at 1.29995 for support and 1.31995 for resistance, with the price positioned between these levels, suggesting a prevailing upward trend in the longer term.
Overall, while the short-term analysis suggests a sideways movement with a neutral RSI on the 15-minute chart and a bearish trend on the 4-hour chart, the longer-term perspective on the daily chart shows a bullish trend. This mixed scenario indicates a market in transition, where short-term fluctuations are contrasted by a more positive long-term outlook.
XAGUSD
Silver was one of the top performers last week, climbing from $27.70 to $29. However, on Friday, following the release of the Non-Farm Payroll (NFP) data, it sharply dropped back to the previous low of $27.70, where it found support and began to recover. Currently, silver is trading between $28.00 and $28.15, which is considered a key demand zone. A breakout above this level could open the door for further gains, with the potential to rise back to the $29.00 mark.
However, if silver reaches $28.60, we anticipate that selling pressure will begin to increase, leading to profit-taking and a possible correction. This zone will likely play a critical role in determining the metal’s short-term direction. Should buyers push prices higher, it may fuel continued bullish momentum, while a failure to break higher could result in a renewed wave of selling, especially if broader market conditions or economic data weigh on sentiment.
In summary, silver’s next move hinges on how it navigates this important price range, with upside potential targeting $29.00 and downside risks emerging around $28.60, where selling pressure could intensify.
XAUUSD
Gold is currently maintaining a horizontal movement within the 2470-2530 range. After reaching a new all-time high, selling pressure emerged near the inflation-adjusted peak at 2530. This has led to a potential pullback, with the likelihood of a retest of the 2470-2480 zone. If gold can hold above this support level, we would anticipate a renewed attempt to reach the 2530 level again.
However, if a breakout below the 2470-2480 zone occurs, the next significant support level to watch would be around 2440. The 2470 area will act as a key decision point for market participants, as holding above it could trigger further bullish momentum, while a breakdown could signal a deeper correction. Future price action will largely depend on market sentiment, as well as external factors such as economic data releases and broader macroeconomic trends.
In summary, gold’s near-term trajectory hinges on its ability to maintain support above the 2470-2480 zone, with upside potential targeting 2530, and downside risks pointing toward 2440 in the event of a breakdown.
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