The USD/JPY pair has continued the bullish run and is fast approaching the 113.26 price level which represents a recent market top. Momentum indicators remain bullish although RSI is approaching overbought conditions.
The EUR/USD pair has rejected the 1.179 price level and has fallen back towards the 1.173 price level. At the same time, RSI has pulled away from overbought conditions. A break of the 1.173 price level will confirm the bearish bias.
The GBP/USD pair is once again testing the 1.306 price level after a strongly bearish move in recent trading. A break would prove significant. Momentum indicators are undergoing bearish reversals.
The USD/CHF pair has broken a key support level at 0.963 price level in a strong bearish move. However, recent trading has indicated that there is a bullish reversal potentially underway. A doji candle at the bottom of the most recent move may be the start of a shift in sentiment.
The USD/CAD pair has rejected the 1.287 price level (which has become a strong support area for the pair) and is once again testing the 1.294 price level. Momentum indicators appear to be undergoing momentum reversals.
Silver's break of the descending trendline could prove significant given the strong bearish bias the metal has been experiencing since June. Additionally, Silver is approaching the 14.46 price level which represents a key long-term support level. MACD is undergoing a bullish momentum reversal.
Price action continues to consolidate just below the 1209.70 support level. Despite an attempt to test the support level, price action remains in consolidation. Momentum indicators are mixed; with MACD approaching the zero line and RSI in neutral territory.
Oil price volatility continues as the commodity has made strides towards a recent market top at the 72.62 price level. Momentum indicators are bullish however, RSI is approaching overbought conditions.