FxAnalysis

Gold (XAU/USD) continued to ignore overbought conditions this week and extended its rally to a new record-high above $4,000.

EUR/USD lost more than 0.5% on Thursday and closed the fourth-consecutive day in negative territory. Although the pair edges higher in the European session on Friday, it shows no signs of a decisive recovery yet.

The USD/CAD pair touches a fresh six-month top during the first half of the European session on Friday and seems poised to build on the previous day’s breakout momentum beyond a technically significant 200-day Simple Moving Average (SMA).

GBP/CHF bounced from strong support at 1.07 on Thursday, suggesting resilience and a potential trend shift if price breaks above the 1.08 resistance level.

USD/CHF strengthened on Thursday, with bullish momentum pointing to a potential breakout above 0.81 and a longer-term move toward the 200-day EMA.

Crude oil declined on Thursday amid oversupply concerns and a strengthening US dollar, with traders watching key support near the $60 level for direction.