Chart the Market (06/11/2025)
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6 November 2025,03:28

Chart The Market

Chart the Market (06/11/2025)

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6 November 2025, 03:28

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XAUUSD, H4: 

Gold prices have staged a technical rebound from recent lows, a move supported by the emergence of a morning star candlestick pattern—a potential bullish reversal signal. However, the rally lost momentum upon encountering significant resistance within the liquidity zone just below the $4,015 per ounce level.

The price action at this resistance is critical for near-term direction. A decisive breakout above $4,015 is required to confirm the rebound’s sustainability and open the path toward higher resistance levels. Conversely, a failure to conquer this barrier would suggest the broader bearish trajectory remains intact, leaving the metal vulnerable to a resumption of its downtrend.

Momentum indicators present a mixed picture. The Relative Strength Index (RSI) is flowing flat near its mid-point, offering a neutral signal and reflecting the current equilibrium between buyers and sellers. In a more constructive development, the Moving Average Convergence Divergence (MACD) is gaining traction and is on the verge of a bullish crossover above its zero line, indicating that the prior bearish momentum is dissipating. The immediate bias will be determined by the commodity’s ability to secure a foothold above $4,015.

Resistance Levels: 4060.00, 4131.00

Support Levels: 3895.00, 3808.00

EURGBP,  H4

The EUR/GBP pair recently extended its strong bullish trend, advancing within a well-defined uptrend channel to reach a peak of 0.8829—its highest level since May 2023. This upward momentum suggests buyers remain in control, a view partially supported by the Relative Strength Index (RSI), which continues to hold above its mid-line.

However, a significant technical caution has emerged. While the price recorded a higher high, the Moving Average Convergence Divergence (MACD) indicator formed a pronounced lower high. This bearish divergence often signals underlying momentum is waning and can precede a potential trend reversal.

The immediate focus for traders is the key support level at 0.8805. A sustained break below this level would validate the bearish divergence signal and likely confirm a near-term reversal, opening the path for a deeper corrective pullback. Until that level is breached, the broader bullish structure remains technically intact, though the conflicting signals advise a cautious approach.

Resistance Levels: 0.8830, 0.8862

Support Levels:0.8800, 0.8765

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