OUTLOOK: Price Signal Summary - EURUSD Trades Through The 50-Day EMA

• On the commodity front, Gold remains in a clear bull cycle and the yellow metal is trading closer to its recent highs. A fresh all-time high, once again this week, confirms a resumption of the primary uptrend and an extension of the sequence of higher highs and higher lows. The next objective is $3705.2, a 1.382 projection of the May 15 - Jun 16 - 30 price swing. Initial firm support lies at $3547.7, the 20-day EMA.
• In the oil space, the trend condition in WTI futures is unchanged - a bear cycle remains intact and the latest recovery is considered corrective. The pullback from the Sep 2 high highlights a possible recent reversal and the end of a corrective phase between Aug 13 - Sep 2. Initial resistance to watch is $66.03, the Sep 2 high. A stronger resumption of weakness would open $57.71, the May 30 low.

Ongoing trade in FFV5 with paper paying 95.945 on 7K, taken bid over.

OI data points to net long setting in most SOFR futures on Tuesday, as contracts settled a little higher on the day. Instances of short cover were fairly limited.