Today Technical Analysis: Gold Surges Above $4,500 as US Dollar Index Falls Below 99.00

Gold Technical Analysis

The 1-hour chart on gold shows price recently broke the psychological resistance level $4,500. It is currently testing immediate support near the moving average MA20, MA10 and MA5. The flattening of these short-term moving averages indicates a temporary loss of upward momentum. The weakness in the US dollar helped fuel gold's rally. Holding above $4,480 keeps the bullish bias towards $4,500 and above in play, whereas a break below $4,480 could extend the retracement toward $4,420.

Gold 1H Chart

Source: STARTRADER app | Gold breaks above $4,500 following the drop in US treasury yields

EURUSD Technical Analysis

The EURUSD 1-hour chart shows a steady uptrend characterized by gradual price expansion. Price has consistently been posting higher highs and higher lows up to 1.1693, approaching psychological resistance near 1.1700. The short-term moving average stack remains fully bullish, with MA5 holding above MA10 and MA20. Trading volume expanded on the initial rally above 1.1600 and remains stable, reflecting steady buying interest without immediate signs of distribution. A sustained break above 1.1700 would pave the way for further gains toward 1.1720, while the intraday trend remains bullish as long as price stays above 1.1674.

EURUSD 1H Chart

Source: STARTRADER app | Weaker dollar pushes major currenceies up. EURUSD nears 1.1700

Bitcoin Technical Analysis

Bitcoin maintains a strong bullish bias following a powerful expansion phase out of its previous consolidation range. Price broke above $65,000 zone with significant volume, driving price up toward resistance at $70,230. The moving averages show classic bullish alignment, with the MA5 leading above the MA10 and MA20. As long as price holds above the immediate MA10 support around $70,000, the short-term bias remains upward, with any minor dip toward $68,827 acting as a retest of dynamic support.

Bitcoin 1H Chart

Source: STARTRADER app | Bitcoin tops $70,000 as Trump urges Congress to pass the Clarity Act

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