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Gold Below $2,360 Eyes US Inflation; EUR/USD Above 1.0850; Dow Up, Nasdaq and S&P 500 Dip.

By Research Team Friday, Jul 26, 2024
EUR/USD

    • 11.30amD1
    • High1.0860
    • Low1.0843
    • Close1.0845

EUR/USD is trading at 1.0849, 0.06% up since previous day close. In the early European session on Friday, the EUR/USD pair is beginning to regain strength over 1.0850. The sustained depreciation of the US dollar continues to support the pair, as risk appetite rises ahead of the important US PCE inflation data. A gap up opening observed today indicates a bullish trend, according to daily chart analysis. 1.0826 and 1.0870 are the nearest points of support and resistance, respectively.

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Daily Outlook

EUR/USD

Intra Day
Near Day

Technical Levels

R3 1.0949
R2 1.0896
R1 1.087
Turnaround 1.0847
S1 1.0826
S2 1.0808
S3 1.0783
By Research Team Friday, Jul 26, 2024
US 30

    • 11.35amD1
    • High40197.00
    • Low40029.00
    • Close40170.00

US 30   is trading at 40168, 0.15% up since previous day close. Heavyweight technology stocks on the U.S. stock index seemed to be recovering from brutal losses in the previous sessions as attention shifted to important incoming inflation data. The daily chart analysis indicates that the market is in an overbought zone since the RSI is above 50. Additionally, a gap up opening that was observed today suggests a bullish trend. The closest resistance is 40478, while the closest support is 39820.

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Daily Outlook

US30

Intra Day
Near Day

Technical Levels

R3 41444.00
R2 40760.00
R1 40478.00
Turnaround 40151.00
S1 39820.00
S2 39638.00
S3 39287.00
By Research Team Friday, Jul 26, 2024
GOLD

    • 11.40amD1
    • High2379.00
    • Low2355.00
    • Close2371.00

XAU/USD is trading at 2373,0.14% up since previous day close. Due to a weaker US core PCE inflation estimate, the gold price staged a minor comeback after initially reacting unfavourably to the US GDP data, which sent it plunging to over two-month lows of $2,353. On Thursday, it settled above the crucial support level of $2,360. The market climbs above the moving average (MA), suggesting a positive trend, according to the daily chart analysis. 2351 and 2401 are the closest points of support and resistance, respectively.

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Daily Outlook

GOLD

Intra Day
Near Day

Technical Levels

R3 2442.00
R2 2431.00
R1 2403.00
Turnaround 2373.00
S1 2351.00
S2 2327.00
S3 2318.00
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