EURUSD is starting this week out on the back foot, as USD has once again strengthened. Monday trading resulted in a bearish breakout from the flag pattern, and today the price hit a lower high. Currently, on the chart we have a descending triangle pattern, which promotes a further drop.
S&P500 is in bearish correction mode, but yesterday the index met a very important support and this decline may be over. Especially since the price bounced from that level creating a daily hammer candle and the V-shape reversal on the smaller timeframe. Sentiment will remain positive as long as we stay above the combination of 2,870 and the upwards trend line.
Gold bounced from the lower line of the symmetrical triangle pattern, which confirms this line as a closest support. After this, the next target should be the upper line of this pattern, but buyers are very weak here and a further drop is slightly more probable. Especially with the stronger dollar.