Gold and Silver bouncing – More upside ahead? [Video]

Kim Cramer Larsson KCL Consult

EUR/USD tests key resistance at 1.1270 as a potential double bottom develops. GBP/USD targets 1.36, GBPJPY eyes 215, while gold and silver stage strong recoveries. US 10-year Treasury yields break below 4.90%.

Highlights

Forex: EUR/USD is testing key resistance at 1.1270 following a potential double-bottom reversal. A breakout could trigger a rally towards 1.1325–1.1370. GBP/USD has established a bullish trend, targeting 1.3560–1.36, potentially extending towards 1.37. GBP/JPY is also gaining momentum, with upside potential towards 215–215.25, while EUR/JPY is challenging resistance around 178.50. USD/JPY remains range-bound between 156 and 159.

AUD/USD faces strong overhead resistance, while USD/CAD remains bearish despite stabilising around 1.39. USD/CHF risks further declines towards 0.8050–0.80.

Precious Metals: Gold has rebounded strongly above $4,082, opening the door for a move towards $4,200–4,225. However, significant resistance could trigger renewed selling pressure. Silver is also recovering, with potential upside towards $55 and possibly $57.25 before encountering stronger resistance.

US Treasury Yields: The US 10-year Treasury yield has broken below 4.90%, increasing the likelihood of a further decline towards 4.75%.

Author

Kim Cramer Larsson

KCL Consult

Kim Cramer Larsson hosts the Daily Technical Update, a daily 15-20 minutes video with live charts.

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