Global Markets Focus on US CPI Data

XAUUSD – Gold Technical Analysis

Yesterday, spot gold reached a new all-time high of $2,942 but later pulled back and closed slightly below $2,900. Last week, Trump's statements on tariffs boosted demand for the precious metal, and today, the US inflation data release is a key event for price action. If gold continues its upward movement, resistance levels to watch are $2,905 and $2,925. In case of a pullback, support levels at $2,885 and $2,860 could come into play.

Resistance: 2,905 / 2,925 / 2,940
Support: 2,885 / 2,860 / 2,845
 

XAGUSD – Silver Technical Analysis

Following a similar trend to gold, silver saw a pullback yesterday but is showing slight gains in early trading today. If the upward momentum continues, resistance levels to monitor are $32.05 and $32.25. On the downside, the Fibonacci 38.2 level at $31.60 serves as a key support, and if breached, further supports at $31.35 and $31.10 could be tested.

Resistance: 32.05 / 32.25 / 32.50
Support: 31.60 / 31.35 / 31.10
 

EUR/USD – Technical Analysis

Last week, the pair faced downward pressure after Trump's tariff announcement but later recovered. However, following Friday’s Non-Farm Payroll (NFP) report, the pair experienced a sharp decline. This week, recovery attempts are gaining momentum as Trump’s tariffs appear to be moderate and phased in for Europe. In early trading, the pair is slightly negative, with the upcoming US CPI report likely to influence price action. If the recovery continues, resistance levels to watch are 1.0375 and 1.0400. On the downside, support levels at 1.0300 and 1.0275 could be key.

Resistance: 1.0375 / 1.0400 / 1.0435
Support: 1.0300 / 1.0275 / 1.0245
 

NAS100 – Technical Analysis

After yesterday’s pullback, Nasdaq futures are trading flat this morning. The US inflation data release could significantly impact price movements. If the downtrend continues, key support levels are 21,655 and 21,510. Conversely, if the index recovers, resistance levels at 21,975 and 22,110 should be watched.

Resistance: 21,975 / 22,110 / 22,310
Support: 21,655 / 21,510 / 21,240
 

UKOIL – Technical Analysis

After rebounding on Monday and Tuesday as geopolitical concerns eased, crude oil prices are trending lower this morning. If a recovery takes place, resistance levels to monitor are $77.25 and $77.90. In case of a decline, support levels at $76.40 and $76.00 may come into focus.

Resistance: 77.25 / 77.90 / 78.15
Support: 76.40 / 76.00 / 75.35