Have Gold Buyers Lost Their Appetite?

• 10 Oct 2017

SILVER

Silver price has broken through the 20-period EMA and is now approaching the 17.113 price level which represents a previous resistance area. A break of this level would provide confirmation of the uptrend. MACD has flattened and RSI indicates that sentiment has turned more bullish in recent trading sessions.

EUR/CAD

The EUR/CAD is testing the 1.474 price level (a recent strong resistance area) having broken the 20-period EMA. If price action is able to break this level, the uptrend becomes significant. MACD is approaching the zero line and an upside break would provide further weight to the bullish move.

AUD/USD

Momentum indicators suggest there is potential for a bullish reversal for the AUD/USD pair. RSI has bounced off sharply from the 30 oversold line and MACD has flattened below zero. A bullish candle to start today’s trading indicates buyers may be returning to the pair. A candle closing above 30 on RSI signals the start of the reversal where price action will then target the 0.781 price level.

GOLD

Gold is testing both the 20 period EMA and the 1291.62 price level. Momentum indicators suggest that sentiment has turned more bullish in recent trading sessions, however, declining volume may highlight low appetite from buyers of the metal. A break of the 1291.62 price level will be required to confirm the uptrend.