USOIL (WTI OIL) feeling the pressure
USOIL (WTI OIL) fell over 1% again as geopolitical tensions continued to simmer. The price has given up some of its monthly gains, and the bearish bias could attract more selling interest. A drop below the psychological level of 60.00 will be a warning sign that sellers are still in control and could lead to a deeper correction in the weeks to come. 61.00 is the first support, and a turnaround can only happen with a break above 63.50.
EURUSD bounces higher
The euro jumped higher after the UK announced a trade deal with the European Union. On the chart, the pair is attempting to hold on to the 1.1250 level after a push to 1.1300 was firmly rejected. The bullish action around this major level has kept overall sentiment upbeat. On the downside, any signs of a bearish divergence on the RSI could pull prices back down towards 1.1150 to cause a complete reversal.
XAUUSD breaking away
Gold moved over $60 higher in recent sessions as prices bounced away from the 3200 level. Despite repetitive bearish attempts to slide lower, 3130 has stood well as critical support. The door is now open for a bullish extension above 3280. As the RSI moves towards the overbought area, any chance of a turnaround first needs a 3200 break before 3160 can be tested.
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