FOREX
EUR/USD EUR/USD trades marginally higher, clinging to the 1.1640 handle and just above its MA200 at 1.16340. The pair found support near the session low of 1.16330, indicating buyer interest at that level. Immediate resistance sits at the session high of 1.16440, with a breach targeting the 60-day swing high at 1.17123. The MA20 has crossed above the MA50, but the price is barely above the MA200, suggesting a neutral to slightly bullish short-term bias. Further downside could test the MA50 at 1.15240, which aligns with the lower end of the 60-day swing. Bias: Neutral-to-Bullish above 1.16330.
GBP/USD GBP/USD shows modest strength, holding above its MA50 and MA200, but remains below the MA20 at 1.35640. The session high of 1.35600 acts as immediate resistance, while the session low of 1.35450 provides initial support. The MA20 has recently crossed below the MA50, signaling a potential weakening in short-term momentum despite the current uptick. A break above 1.35600 could target the 60-day swing high of 1.36750. Conversely, a drop below 1.35450 would expose the MA50 at 1.34740. Bias: Neutral below 1.35640.
USD/JPY USD/JPY continues to trade significantly below its key moving averages (MA20, MA50, MA200), indicating a strong bearish trend. The current price at 153.590 is near the 60-day swing low of 152.897, suggesting strong support is being tested. Resistance is seen at the session high of 153.744 and further at the MA20 at 158.115, which is a considerable distance away. The ATR14 of 1.123 points to elevated volatility. Bias: Bearish below 153.744.
AUD/USD AUD/USD maintains an upward trajectory, trading at the upper end of its session range and above all key moving averages (MA20, MA50, MA200). The current price of 0.72230 is approaching the 60-day swing high of 0.72390, indicating strong bullish momentum. Immediate support is at the session low of 0.72110, with further support at the MA20 at 0.71580. The MA20 being above the MA50 and MA200, all sloping upwards, confirms a clear uptrend. Bias: Bullish above 0.72110.
DXY The US Dollar Index (DXY) is marginally lower, trading around 98.752, near the lower bound of its 60-day swing range at 98.560. DXY remains below its MA20, MA50, and MA200, signaling persistent underlying weakness. The session low of 98.706 offers minor support, with the previous close at 98.770 acting as immediate resistance. A break below 98.706 could lead to a test of the 60-day swing low. Bias: Bearish below 98.770.
INDICES AND FUTURES
Nasdaq 100 (NQ) Nasdaq 100 futures are trading slightly higher, but remain below the MA20 at 29523.15, suggesting a cap on upside momentum. The session high of 29508.25 acts as near-term resistance, while the session low of 29364.00 provides initial support. NQ is above its MA50 and MA200, which are trending upwards, indicating a longer-term bullish structure. However, a failure to break above the MA20 could see a retest of the MA50 at 29340.53. Bias: Neutral-to-Bullish above 29364.00.
S&P 500 futures (ES) S&P 500 futures show a moderate bounce, reaching 7663.00, but are still below the MA20 at 7709.57. Price is well supported by the MA50 at 7633.20, which has held during the session low of 7644.00. The long-term trend remains bullish with MA50 and MA200 strongly positive. A sustained break above the MA20 is needed to confirm renewed bullish momentum. Otherwise, a retest of the MA50 remains a possibility. Bias: Neutral-to-Bullish above 7644.00.
Dow futures (YM) Dow futures are the strongest among the US indices, posting significant gains and trading near the session high of 52636.00. Despite the positive session, YM remains below its MA20 and MA50, suggesting a counter-trend bounce within a broader pullback. The MA200 at 50098.27 provides strong long-term support. A sustained move above the MA50 at 53120.54 is required to alleviate current bearish pressure. Bias: Neutral below 53120.54.
DAX DAX is under considerable pressure, down -1.66% and trading near the session low of 25512.39. The index is significantly below its MA20, MA50, and MA200, indicating a clear bearish trend. The previous close of 26007.63 acts as strong overhead resistance. Continued selling could see DAX test the 60-day swing low of 24547.70. Bias: Bearish below 25909.66.
FTSE 100 FTSE 100 is trading lower, down -1.31%, and has broken below its MA20 and MA50, turning short-term bearish. The session low of 10651.71 provides immediate support. The MA200 at 10372.40 remains a significant long-term support level. The current decline could see a test of the 60-day swing low of 10332.40 if sellers maintain control. Bias: Bearish below 10793.01.
COMMODITIES
Spot gold (XAU/USD) Spot gold is experiencing a strong rally, up +1.20% and trading near the session high of 4473.90, which also aligns with the MA20 at 4473.40. A break above this level would signal a continuation of the recent upward momentum. Price is firmly above the MA50, suggesting a mid-term bullish outlook. However, it remains below the MA200, which acts as a key long-term resistance. Bias: Bullish above 4433.20.
Spot silver (XAG/USD) Spot silver is posting solid gains, up +0.73% and trading comfortably above its MA20 and MA50. The current price of 68.435 is approaching the session high of 68.525, with further resistance at the 60-day swing high of 71.160. Silver remains below its MA200, indicating a long-term bearish bias despite the recent strength. The ATR14 of 1.590 highlights significant daily volatility. Bias: Bullish above 67.780.
Copper Copper is strongly bullish, trading at a fresh 60-day swing high of 6.88150 within the session, and remaining above all key moving averages. The MA20 has crossed above the MA50 and MA200, indicating a robust uptrend. The current rally targets new 52-week highs. Immediate support is found at the session low of 6.83450. Bias: Strongly Bullish above 6.83450.
WTI crude WTI crude is pulling back slightly, down -0.46%, after failing to sustain above the session high of 97.790, which is also the 60-day swing high. Despite the current dip, WTI is trading well above its MA20, MA50, and MA200, indicating a strong underlying uptrend. The MA20 at 87.240 provides significant support further down. A break below the session low of 95.400 could extend the pullback. Bias: Bullish above 95.400.
Brent crude Brent crude is also experiencing a minor retracement, down -0.77%, after hitting its 60-day swing high at 102.570 within the session. The price remains well above its MA20, MA50, and MA200, confirming a strong bullish trend. The session low of 100.340 acts as immediate support. Any significant pullback is likely to find buyers around the MA20 at 92.850. Bias: Bullish above 100.340.
Natural gas Natural gas is trading lower, down -1.10%, and remains below all its key moving averages (MA20, MA50, MA200). The current price of 2.79100 is near the session low of 2.78700, and close to the 60-day swing low of 2.61600. This bearish posture suggests continued downside pressure. Resistance is at the MA20 at 2.83240. Bias: Bearish below 2.81500.
RATES
US 10-year Treasury yield The US 10-year Treasury yield is higher, extending its upward move to 4.83700, and is trading above its MA20, MA50, and MA200. This indicates a strong bullish trend in yields. The current price is close to the 60-day swing high of 4.85700, suggesting a test of this key resistance level is imminent. Bias: Bullish above 4.80600.
LONDON OPEN WATCH: Equities are mixed with European indices underperforming US futures. Gold and industrial metals show strength, suggesting risk-off flows or inflation hedges while bond yields climb.