USD/CHF Tests Key Support Level

• 14 Sep 2018

 

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USD/JPY

The USD/JPY pair is testing the 111.81 price level and the next likely target for buyers is the 113.26 price level; which represents a previous market top. Momentum indicators have become more bullish.

Impact event: US Core Retail Sales Data will be released at 12:30 GMT and will impact all US Dollar pairs.

 

 

 

 

 EUR/USD

The EUR/USD pair has broken the 1.164 resistance level and is making moves towards the 1.173 price level. Momentum indicators have turned more bullish; with MACD breaking the zero line yet RSI continuing its upward trajectory.

 

 

 

 

 GBP/USD

The GBP/USD pair has broken the 1.306 price level to upside, with the next target likely to be the 1.330 price level. MACD has broken the zero line and RSI has a sharp upward trajectory.

 

 

 

 

USD/CHF

The USD/CHF pair has returned to the key support level at the 0.963 price line, as bearish sentiment appears to dominate the pair. MACD has stalled in bearish territory, however, RSI remains is approaching oversold conditions and volume has fallen into the bearish move. Can sellers keep the move going?

 

 

 

 

USD/CAD

The USD/CAD pair has broken a resistance line at the 1.302 price level after a series of strongly bearish moves for the pair. Price action has taken a breather after the recent break, however, the next target for sellers will be the 1.294 price level.  MACD has broken the zero line to the upside and RSI has turned bearish.

 

 

 

 

SILVER

Silver has experienced a break to the downside of the descending triangle which confirms the bearish bias. A series of doji candles may indicate a rest period in the longer-term bearish trend. MACD may be beginning a momentum reversal.

 

 

 

 

GOLD

The recent bullish move has culminated in a break of the descending trendline and price action is now consolidating just below the 1209.70 support level. A series of doji candles indicates indecision from traders. Momentum indicators have turned bullish.

 

 

 

 

OIL

Oil has broken the key 68.84 price level and has tested the ascending trendline. However, the volatility continues as the commodity sank towards the 68.84 resistance level in yesterday’s trading. Momentum indicators are mixed.