The EURAUD Performance

EURAUD has hit the first target and has rallied +120 pips to the upside and hit the first target around 1.64500. This price action completed the bullish setup. According to the bigger structure and trend on the higher timeframes, traders are still bullish and anticipate a rally up to the top of the descending structure. As such, any bullish continuation setup will be a trading opportunity.

The XAGUSD (Silver) Performance

Silver is gearing for a bullish run and is now trading closer to the top of the descending channel after it aggressively bounced on the support zone around 22.500.

According to the higher timeframes price action and structure, traders have identified this descending structure as a retracement of the bigger bullish trend and are looking for bullish trading opportunities. As such, a break and close above the channel as well as the resistance zone around 22.950 will provide signs of bullish momentum and trading opportunities.

The XAUUSD (Gold) Performance

Gold is about to break above the channel and has aggressively bounced from the bottom of the bigger ascending channel seen on the daily timeframes and the support zone around 2017.00. This price action also caused the market to trade above the previous resistance zone around 2030.00. According to this price action, traders are looking for bullish continuation trading opportunities and anticipate that the trend will resume to the upside. As such, traders are waiting for a break and close above the channel as well as the resistance zones around 2038.00 and 2044.00 to identify bullish momentum and trading opportunities.

Final Thoughts On Today’s Analysis

In conclusion, the recent performance of EURAUD, Gold, and Silver has provided valuable insights for traders. EURAUD has successfully reached its target, showcasing a bullish momentum with a potential for further upside movement. The bullish setup aligns with the larger trend observed on higher timeframes, suggesting ongoing optimism among traders.