Oil prices expected to continue rising. Gold could correct in the short term. Euro/Dollar outlook uncertain, dependent on upcoming data. Here’s your Market outlook for today:
Oil:
- The short-term oil uptrend continues, with a target of $82.34-$81.35.
- Buy at support levels $75.19-$74.86 and $73.54-$73.05.
- Sell if support breaks and price consolidates below $68.59-$67.60.
Gold:
- Gold is correcting and approaching resistance at $2029-$2025.
- Sell at resistance or consider selling at $2052-$2046.
- Take profit at $1985.
EURUSD:
- Failed breakout attempt at resistance $1.0787-$1.0778.
- Sell at resistance or consider selling at $1.0833-$1.0820.
- Take profit at $1.0700.
USDJPY:
- Upward trend continues due to divergence in economic growth and monetary policy.
- Sell below support at $149.85.
- Outlook: Reversal underway, potential for USDJPY decline and yen appreciation
BTCUSD:
- Price is expected to reach $53,125 and then correct down to $46,570.
- Sell below $53,125 with targets at $51,800 and $51,560.
- Further downside potential to $46,875 if support breaks.
XRPUSD:
- Bullish wave expected, targeting $0.600.
- Buy at $0.560.
ETHUSD:
- Correction expected to $2738.17, followed by another upward move.
- Buy limit at $2738.17.
Market direction is mixed with some assets like oil and bitcoin in uptrends, while others like gold and EURUSD are correcting downwards. Be cautious and follow technical signals before making any trading decisions.
Categories: Market News
