FOREX EUR/USD EUR/USD trades below its 20-MA and 200-MA, signalling persistent bearish pressure within a broader range. The pair is holding above the 60-day 50% retracement at 1.15189, offering near-term support. Current price at 1.16020 is challenging the daily pivot of 1.16010, with resistance at 1.16210 (session high) and 1.16300 (MA20). A break below the session low of 1.15740 could target 1.15500. Bias: Bearish below 1.16210.
GBP/USD GBP/USD shows modest strength, trading above its 50-MA (1.34810) and 200-MA (1.34510), but below the 20-MA (1.35640). The pair is pushing against session highs at 1.35340, with the 60-day 50% retracement at 1.34090 providing strong underlying support. A move above 1.35340 targets 1.35640 (MA20) and 1.35800. Downside support is at 1.34810 (MA50) then 1.34510 (MA200). Bias: Neutral above 1.34810.
USD/JPY USD/JPY continues its downtrend, trading significantly below all key moving averages (MA20, MA50, MA200). Price is currently at 153.554, near the session low of 153.234, and approaching the 60-day swing low of 152.897. The 60-day 61.8% Fibonacci retracement at 156.916 acts as immediate resistance. Further downside could see a test of 152.000 if 152.897 fails. Bias: Bearish below 154.617.
AUD/USD AUD/USD shows resilience, trading above its 20-MA (0.71670), 50-MA (0.70680), and 200-MA (0.70000). The pair is at the session high of 0.71730, indicating strong intraday momentum. Immediate resistance is at 0.72000, with a push towards the 60-day swing high of 0.72390 possible. Support is firm at 0.71670 (MA20) and 0.71560 (previous close). Bias: Bullish above 0.71670.
US Dollar Index (DXY) DXY is consolidating around 99.095, trading below its 20-MA (99.204) and 200-MA (99.144), but above the session low of 98.965. The index remains within a tight range, capped by 99.368 (session high) and supported by 98.965. A break below 98.965 could retest the 60-day swing low of 98.560. Resistance above 99.368 is at 99.500. Bias: Neutral below 99.204.
INDICES AND FUTURES Nasdaq 100 futures (NQ) NQ futures are strongly bid, trading above the 50-MA (29319.33) but just shy of the 20-MA (29465.44) and the session high of 29500.25. Momentum is positive, with prices pushing towards the 29500 round number. A breach of 29500.25 could target 29650. Downside support is at 29319.33 (MA50) and 29135.25 (previous close). Bias: Bullish above 29319.33.
S&P 500 futures (ES) ES futures are showing strong gains, trading above the 50-MA (7634.23) and nearing the 20-MA (7698.20) and session high of 7683.50. The market structure remains constructive as price attempts to break above recent resistance. A clear break above 7683.50 would target 7720. Support is found at 7634.23 (MA50) and 7594.25 (session low). Bias: Bullish above 7634.23.
Dow futures (YM) YM futures are rallying sharply, trading above the session low of 52059.00 and well above the previous close of 52095.00. However, price remains below both the 20-MA (53232.85) and 50-MA (53108.30). The current level of 52576.00 faces resistance at 52739.00 (session high) then 53000. Support is at 52059.00, with stronger support at the 60-day swing low of 51420.00. Bias: Neutral below 53108.30.
DAX DAX is trading positively, above its previous close and near session highs at 25581.22. Price is currently below the 20-MA (26045.57) and 50-MA (25745.26), indicating a potential retest of these resistance levels. A break above 25581.22 targets 25650. Support is at 25396.38 (session low) and 25361.15 (previous close). Bias: Neutral below 25745.26.
FTSE 100 FTSE 100 is posting gains, trading above its previous close and maintaining an upward bias within its session range. The index remains below its 20-MA (10775.68) and 50-MA (10738.44), suggesting resistance overhead. Current price at 10650.44 faces immediate resistance at 10714.67 (session high). Support is at 10602.13 (session low) then 10550. Bias: Neutral below 10738.44.
COMMODITIES Spot gold (XAU/USD) Gold is experiencing a strong rebound, trading at 4408.90, well above its 50-MA (4265.95) but still below the 20-MA (4468.32) and 200-MA (4526.81). The move has taken prices towards the session high of 4444.90. A sustained break above 4444.90 could see a push towards 4468.32. Support is at 4364.50 (previous close) and 4333.00 (session low). Bias: Neutral above 4364.50.
Spot silver (XAG/USD) Silver is rallying strongly, currently at 65.188, trading above its 50-MA (62.517) but below its 20-MA (66.576) and 200-MA (72.212). The session high of 65.820 acts as immediate resistance. A break above 65.820 targets 66.576. Support is at 64.284 (previous close) and 63.150 (session low). Bias: Neutral above 64.284.
Copper Copper is showing solid gains, trading above its 50-MA (6.46100) and 200-MA (6.01750), but slightly below its 20-MA (6.57600) and the session high of 6.59300. The current price of 6.54800 is attempting to break higher, with immediate resistance at 6.57600. A push above this could target 6.65000. Support is at 6.50100 (session low) and 6.46700 (previous close). Bias: Bullish above 6.50100.
WTI crude WTI crude is under significant selling pressure, trading at 100.050 and well below its previous close of 102.480. Despite the drop, price remains above its 20-MA (88.523), 50-MA (83.228), and 200-MA (79.586). Current price is testing the 100.00 psychological level. A break below 99.800 could target 98.480 (session low). Resistance is at 102.480. Bias: Bearish below 102.480.
Brent crude Brent crude is also experiencing a sharp decline, trading at 104.610, significantly below its previous close of 107.630. Similar to WTI, Brent remains well above its key moving averages. The session low of 103.480 offers immediate support. Resistance is at 107.630, with further upside capped by 110.190. Bias: Bearish below 107.630.
Natural gas Natural gas is trading flat, consolidating around 2.83100, just below its 20-MA (2.83970) and 50-MA (2.85600). The price action is contained within a narrow session range of 2.77300-2.84600. Critical resistance is at 2.85600 (MA50); a break above could target 2.90000. Support is at 2.77300 (session low). Bias: Neutral below 2.85600.
RATES US 10-year Treasury yield The US 10-year Treasury yield is rising, currently at 4.97500, pushing towards the 60-day swing high of 4.98500 and marking new 52-week highs. The yield is well above all key moving averages, indicating strong upward momentum. A break above 4.98500 would open the door towards 5.00000. Support is at 4.94400 (previous close). Bias: Bullish above 4.94400.
LONDON OPEN WATCH: Equities are rallying into the open, with NQ and ES leading the charge, suggesting risk-on sentiment which could weigh on the USD. Watch for any reversal in crude oil as it tests key support levels, and how gold reacts to potential USD weakness or continued rates strength.