Bullish Rebound Imminent For Eurodollar?

• 21 Jan 2019

Kickstart your new year with the best USD50 bonus campaign. Limited-time offer! Get it now!

USD/JPY

 

 

The USD/JPY pair appears to be gaining some bullish momentum. Price action has broken the several resistance levels to test the 109.87 price level, as dollar buyers begin to dominate. MACD is continuing a sharp bullish reversal and RSI has a sharp upward trajectory.

 

 

 

 

EUR/USD

 

 

The EUR/USD pair has retraced to test the ascending trendline and once again it appears buyers have returned to initiate a rebound. Despite buyers returning, there is some residual bearish momentum; MACD is on the verge of breaking the zero line and RSI has a downward trajectory, having broken the default line.

 

 

 
 GBP/USD

 

 

The GBP/USD pair had made a recovery, however, sellers are still active in the pair. A break of the 1.292 price level to the upside has been met with strong selling pressure. MACD has begun a bearish momentum reversal and RSI has pulled away from the 70 overbought zone.

 

 

 

USD/CHF

 

The USD/CHF pair has rallied once again to break the 0.986 resistance line and the pair is now approaching the 0.997 price level. Momentum indicators have turned bullish; with MACD fast approaching the zero line and RSI beginning an upward trajectory. 

 

 

 

 

USD/CAD

 

 

The USD/CAD pair has pulled back from a long-term uptrend and as a result has broken several support levels and now price action has stalled at the 1.326 price level. Momentum indicators remain somewhat bearish; as MACD has broken the zero line to the downside and RSI remains below the default line.

 

 

 

SILVER

 

The reversal has begun for the metal which has undergone strong selling pressure in recent trading. Momentum indicators also confirm a reversal; with MACD beginning a momentum reversal and RSI pulling back to break the 70 resistance level and begin a downward trajectory. 

 

 

 

 

GOLD

 

 

Gold has also stalled after a significant rally, yet selling pressure appears to be climbing denoted by the bearish moves in recent trading. The next obvious price target for sellers appears to be the 1258.20 support level which represents a previous resistance area. Momentum indicators confirm bearish sentiment.

 

 

 

 

OIL

 

 

WTI buyers have returned with moderate bullish moves to take WTI close to $54 per barrel. The move has been supported by a bullish break of the zero line on MACD and a strong upward trajectory on RSI.