DXY, EURUSD, GBPUSD, Gold, and Silver SMC Update
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The US dollar is bouncing from support, but the big question now is whether this is simply relief before the next leg lower or the beginning of something more significant.
In today’s video, I break down the latest price action across the US Dollar Index (DXY), EURUSD, GBPUSD, gold (XAUUSD), and silver (XAGUSD), including the key levels and market structure I’m watching as we move through the rest of the week.
The DXY recently swept the 98.70 area and has started to bounce, but that doesn’t necessarily mean the bottom is in. The dollar is still dealing with lower highs and lower lows in the short term, with a major resistance area between roughly 99.50 and 100.00. At the same time, the larger market structure is technically still bullish, which makes this an important area for determining whether the current move is just a relief rally or the beginning of a larger reversal.
EURUSD is pulling back after mitigating the inefficiency we’ve been tracking around the recent highs. The short-term structure remains bullish for now, with the 1.1600 to 1.1620 area becoming an important support zone. However, the larger structure still favors the broader downtrend, meaning this entire move toward 1.1700 could eventually develop into another lower high.
GBPUSD continues to trade more like a range than a clean trend. The pound recently swept resistance around 1.3655 and is now pulling back, with 1.3550 acting as the next key support area and 1.3450 sitting below that. Those levels should help determine whether GBPUSD can maintain its short-term strength or remain trapped inside the broader 2026 range.
Gold is also at an important point. XAUUSD has been carving out higher highs and higher lows in the short term and remains above its yearly open, but the larger trend has been weaker throughout much of the year. A lot will depend on what happens next with the US dollar. If the DXY rally stalls at resistance and turns lower again, gold could remain constructive as long as buyers continue defending support.
Silver has one of the cleaner short-term structures right now, with a change of character followed by higher highs and higher lows. However, XAGUSD is approaching a major test near the 71.33 yearly open. That area could attract sellers, so how silver reacts there will be important for determining whether this rally has room to continue or begins to lose momentum.
Throughout the video, I also break down the Smart Money Concepts behind these moves, including liquidity sweeps, break of structure, protected highs and lows, inefficiencies, and how I look at trends within larger trends across multiple timeframes.
#Forex #EURUSD #Gold #DXY #SmartMoneyConcepts
CHAPTERS
0: 00 DXY / US Dollar
2: 42 EURUSD
2: 46 Free SMC Strategy
4: 46 GBPUSD
5: 27 Gold (XAUUSD)
5: 30 IC Markets Bonus
7: 23 Silver (XAGUSD)
SMC LESSONS
BoS and CHoCH made simple
https://youtu.be/FE1bgD9N6DM
Steal my liquidity sweep entry model (beginner-friendly)
https://youtu.be/XH4TAoLCFBk
Premium, discount, and OTE explained
https://youtu.be/UWrvexqN3w8
Disclaimer: This video is for educational purposes only and is not financial advice. Trading forex, crypto, and other markets involves risk and may not be suitable for all investors. Always do your own research and never risk money you can’t afford to lose. I am not responsible for any losses you may incur from acting on the information in this video.