Energies
After a sharp drop, EUR/USD found demand and buying pressure near 1.1064 with a strong bullish engulfing pattern. Price is now trading in consolidation.
Breaking above 1.1200 and closing of the 1H candlestick beyond this level will hint at more increases towards 1.1300 level. Low volume trading was observed last week. Short term and mid-term moving averages give mixed signals with no clear direction. Falling below 1.1125 is bearish on the pair as the dollar index continues to fluctuate around the 100 level.
EURUSD 1H Chart
| Resistance | 1.1220 | 1.1239 | 1.1266 |
| Support | 1.1157 | 1.1131 | 1.1097 |
Gold has been trading in a downtrend for a week, but last Thursday, it showed a strong bullish impulse from 3122. Price is now moving near supply levels.
Moving averages in the short term show indecisiveness as crossovers give mixed signals. The precious metal is trading in a range of $3,150 and $3,275 with MACD showing bullish momentum. Breaking above the $3,275 is positive and might lead to more rises in the price toward $3,300 levels.
Gold (XAUUSD) 1H Chart
| Resistance | $3,253 | $3,265 | $3,290 |
| Support | $3,206 | $3,154 | $3,139 |
The Dow Jones continues its uptrend on the daily and hourly chart. Currently, the index is experiencing mild bearish correction with moving averages MA(5) and MA(10) crossing MA(30) to the downside. Buying pressure is anticipated at the 42,200-42,250 levels.
The MACD shows weakness on the index, but with a bullish divergence. The outlook is still positive on the Dow Jones unless price breaks below 41,700 levels
Dow Jones 1H Chart
| Resistance | 42,451 | 42,662 | 42,851 |
| Support | 42,238 | 42,139 | 42,047 |
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