FOREX EUR/USD EUR/USD is testing its 200-day MA at 1.16330, trading just below the session high of 1.16360. The pair has moved firmly above its 20-day MA at 1.16080 and its 50-day MA at 1.15060, indicating renewed bullish momentum. The 60-day swing high is 1.17123, with the 61.8% Fibonacci retracement from the 60-day swing low of 1.13254 to the 60-day swing high at 1.15650 offering support. Further resistance is seen at the 127.2% Fibonacci extension at 1.18180 from the same swing. Current session strength puts prior resistance at 1.16000 into focus as immediate support. Bias: Bullish above 1.16080.
GBP/USD GBP/USD is showing strong upward momentum, trading above its previous close and near its session high of 1.35380. The pair has cleared its 50-day MA at 1.34500 and 200-day MA at 1.34430, signaling a potential shift to an uptrend. However, it remains below the 20-day MA at 1.35570, which acts as immediate resistance. The 60-day swing high is 1.36750, with the 38.2% Fibonacci retracement of the 60-day swing from 1.31430 to 1.36750 around 1.34700 offering support. A break above 1.35570 could target the 1.36000 round number. Bias: Bullish above 1.34800.
USD/JPY USD/JPY has experienced a significant downturn, dropping over 1.6% and currently trading below its 20-day MA (159.075) and 50-day MA (160.644). The pair breached the 200-day MA at 158.458 earlier and is now well below it, indicating strong bearish pressure. The session low of 155.282 is near the 60-day swing low of 155.256, suggesting this level is critical support. A break below 155.256 could open the door to the 146.217 52-week low. Resistance is now at the 156.448 session high, followed by the 157.000 round number. Bias: Bearish below 157.000.
AUD/USD AUD/USD shows robust gains, trading at 0.72120, close to its session high of 0.72170 and the 60-day swing high of 0.72166. The pair is trading well above its 20-day (0.71280), 50-day (0.70330), and 200-day (0.69810) MAs, confirming a strong uptrend. A decisive break above 0.72170 could target the 52-week high of 0.72770. Immediate support is found at the previous close of 0.71636, with the 161.8% Fibonacci extension from the 60-day swing at 0.72990. Bias: Bullish above 0.71600.
DXY The US Dollar Index (DXY) is trading marginally higher at 99.036, but remains below its 20-day MA (99.387) and 200-day MA (99.165), indicating underlying weakness. Price action is contained within yesterday's range, hovering near the 99.000 psychological level. The DXY continues to trade below its 50-day MA at 100.232, reinforcing the short-term bearish bias. A drop below the 98.916 session low could target the 60-day swing low of 98.560. Bias: Neutral-to-bearish below 99.165.
INDICES AND FUTURES Nasdaq 100 futures (NQ) NQ futures are trading higher, but below the session high of 29643.00, suggesting some resistance. The index is holding above its 20-day MA at 29561.74 and its 50-day MA at 29370.53, maintaining a short-term bullish structure. However, the 60-day swing high of 30968.00 remains a significant hurdle. Immediate support is seen at the 29500 round number, with the 29482.00 session low acting as a critical intraday floor. Bias: Bullish above 29560.00.
S&P 500 futures (ES) ES futures show marginal gains, holding above the 7750.00 psychological level. The index is trading above its 20-day MA (7726.88) and 50-day MA (7623.23), indicating constructive short-term momentum. The 7764.50 session high acts as immediate resistance. A break above this could target the 60-day swing high of 7838.50. Support is found at the 7748.25 session low, with the 7726.88 MA20 reinforcing this level. Bias: Bullish above 7725.00.
Dow futures (YM) YM futures are flat, trading exactly at yesterday's close of 53745.00 within a tight range. The index is holding above its 20-day MA at 53538.80 and 50-day MA at 53118.08, but remains below the 53800 resistance area. The 60-day swing high is 54884.00, while the 53772.00 session high is the immediate upside target. Support lies at the 53703.00 session low. Bias: Neutral-to-bullish above 53700.00.
DAX The DAX is exhibiting strong positive momentum, currently trading at 26003.32, just off its session high of 26007.79. The index has reclaimed its 50-day MA at 25667.81 and 200-day MA at 24651.90, but remains below the declining 20-day MA at 26222.53, which is the next key resistance. A break above the 20-day MA could target the 26618.74 60-day swing high. Immediate support is located at the 25839.33 previous close. Bias: Bullish above 25800.00.
FTSE 100 The FTSE 100 is showing robust performance, trading up 0.70% and above its 20-day MA at 10810.05 and 50-day MA at 10713.56. The index is approaching its session high of 10866.82, indicating strong buying interest. A clear break above 10866.82 could set sights on the 60-day swing high of 10989.50. The prior close at 10756.50 serves as immediate support. Bias: Bullish above 10800.00.
COMMODITIES Spot gold (XAU/USD) Gold is advancing, currently trading at 4516.20, having pulled back slightly from the session high of 4533.60. It is now testing its 200-day MA at 4520.90, a critical resistance level. The 20-day MA at 4471.48 and 50-day MA at 4240.71 are well below current price, indicating short-term bullishness. A clear break above 4520.90 could open the path towards the 60-day swing high of 4670.90. Immediate support is at 4511.60 session low. Bias: Bullish above 4470.00.
Spot silver (XAG/USD) Silver is also posting gains, trading at 67.285 within a tight session range. It remains above its 20-day MA at 66.499 and 50-day MA at 62.020, but significantly below its 200-day MA at 71.910. The 67.810 session high represents immediate resistance. The 61.8% Fibonacci retracement level of the 60-day swing from 55.015 to 71.160 is at 61.160, reinforcing support. A break above 67.810 could target the 68.500 round number. Bias: Bullish above 66.500.
Copper Copper is showing significant strength, up over 1.2% and trading at 6.65600, near the lower end of its session range but well above its previous close. Price is above the 20-day MA at 6.57480, 50-day MA at 6.42370, and 200-day MA at 5.98510, indicating a clear uptrend. The 6.75000 60-day swing high remains the ultimate target. Immediate support is at the 6.65500 session low. Bias: Bullish above 6.57000.
WTI crude WTI crude is higher, trading at 91.690 and holding near the upper half of its session range. The commodity is trading comfortably above its 20-day MA (85.446), 50-day MA (80.961), and 200-day MA (78.816), confirming a strong bullish trend. The 60-day swing high of 93.640 is the next significant resistance. Immediate support is found at the 91.350 session low, followed by the 91.300 previous close. Bias: Bullish above 91.000.
Brent crude Brent crude is also gaining, trading at 95.700 within a relatively tight session range. It is well above its 20-day MA (91.124), 50-day MA (86.168), and 200-day MA (83.843), reflecting a solid uptrend. The 60-day swing high of 102.010 is the key upside target. Immediate support is at the 95.370 session low, with the 95.520 previous close offering additional comfort. Bias: Bullish above 95.300.
Natural gas Natural gas is displaying modest gains, trading at 2.92600. It remains above its 20-day MA at 2.82170 and 50-day MA at 2.88510 but is still well below its 200-day MA at 3.30750. The 60-day swing high is 3.44100. Immediate resistance is at the 2.93000 session high. Support is at the 2.91500 session low, with the 2.90000 psychological level offering further backing. Bias: Bullish above 2.88000.
RATES US 10-year Treasury yield The US 10-year Treasury yield has pulled back by 0.71% to 4.76200, retreating from the 52-week high of 4.80600. It is trading above its 20-day MA (4.70450), 50-day MA (4.62560), and 200-day MA (4.35630), indicating a persistent underlying uptrend despite the intraday dip. The 4.80600 level remains a strong resistance. Support is seen at the 4.75000 round number, with the 4.70450 MA20 being crucial. Bias: Bullish above 4.70000.
LONDON OPEN WATCH: The FX complex signals broad USD weakness, potentially fueling further EUR/USD and AUD/USD upside toward 200-day MA for EUR/USD and 52-week highs for AUD/USD. Equity futures are mixed but largely holding prior day gains, suggesting continued upside potential if resistance levels can be breached.