XAUUSD, which is in a long-term bullish trend, has formed a rising wedge pattern, with the price rebounding off the lower trend line. Given the growing bullish sentiment, two possible scenarios should be considered. •If the bulls push the price above the 2480 trend line, we can expect a rise to 2565; •A rebound will bring XAUUSD back to the 2430 support.
US100
After a long-term bullish trend, US100 has started a correction, and the price is consolidating near the 61.8 Fibonacci level. •If the price overcomes the resistance of 18 500, it may again reach the level of 19 400; •A rebound from the resistance will drop the US100 to the support at 17 700.
EURUSD
In the daily timeframe, EURUSD has formed an ascending channel pattern, with the price recently bouncing off the upper trend line. A divergence in the RSI suggests the potential for further decline. •A EURUSD sell position may be considered if the price falls below the support level at 1.0900, with a target of 1.0790.
These trading signals are intended to provide insights into potential trading opportunities. It is important to remember that the Forex market is highly dynamic, and market conditions can change rapidly. Always use appropriate risk management techniques and stay updated with the latest economic news that may impact the markets.
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XAUUSD
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