Eurodollar To Resume Previous Trading Range?

• 6 Sep 2018

 

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USD/JPY

The USD/JPY pair is testing the descending trendline as well as the 111.81 price level. Momentum indicators are slightly bullish; with MACD approaching the zero line whilst RSI continues its upward trajectory.

 

 

 

 

 

 

EUR/USD

The EUR/USD pair has bounced back from the 1.153 price level as the pair enters into a trading range between the 1.153 and 1.179 price levels. Currently, the pair is testing the 1.164 price level with momentum indicators displaying a moderately bullish bias.

 

 

 

 

 

 

GBP/USD

The GBP/USD pair’s bullish recovery appears to have been stalled. Price action rejected the 1.306 price level and turned bearish. however, it appears buyers may make another attempt as momentum indicators suggest favour is with the bulls.

 

 

 

 

 

 

USD/CHF

The USD/CHF pair has finally broken the 0.981 support level to the downside. Price action has stalled just short of the next support level at the 0.963 price line. MACD has stalled in bearish territory and RSI continues to test the 30 support level.

 

 

 

 

 

USD/CAD

The USD/CAD pair has rallied significantly in recent trading, to break the 1.316 resistance line. The next resistance level is the 1.326 price line and will likely be the next target for buyers. MACD is undergoing a momentum reversal and RSI has an upward trajectory.

 

 

 

 

 

SILVER

Silver has entered into a descending triangle with price action consolidating towards the apex. A break to the downside confirms the bearish bias. MACD has extended its bearish position and volume has increased into the bearish move.

 

 

 

 

GOLD

The recent bullish move has culminated in a break of the descending trendline and the metal is now testing the 1209.70 support level. A series of doji candles indicates indecision from traders. MACD is undergoing a momentum reversal and RSI has flattened in slight bearish/neutral territory.

 

 

 

 

 

OIL

Oil has reverted a break of the 68.84 price level which is a key resistance line. The break has also included an ascending trendline, with the next target for sellers likely to be the 67.32 price level. MACD has broken the zero line yet RSI is recovering from oversold conditions.