Kickstart your new year with the best USD50 bonus campaign. Limited-time offer! Get it now!
USD/JPY
The USD/JPY pair continues to test both the 110.63 level and the ascending trendline which has been acting as a resistance level for the pair. Momentum indicators are bearish; with MACD breaking the zero line and RSI beginning a momentum reversal.
EUR/USD
The EUR/USD pair has broken the descending trendline and the 1.125 price level. This represents a key support area for the pair which on previous occasions has resulted in a bullish reversal. Momentum indicators remain bearish with MACD breaking the zero line and RSI heading towards the 30 support level.
GBP/USD
The GBP/USD pair has pulled back towards the ascending trendline and the pair is already beginning a bullish recovery, again, fundamental factors are likely to play a big role in near-term price action and the volatility will likely continue. Momentum indicators have turned more bearish.
USD/CHF
The USD/CHF pair has broken a series of support levels, as the dollar suffered against the Swiss Franc. A dollar recovery has resulted in the pair heading towards the 0.997 price level. Momentum indicators are mixed; MACD has broken the zero line (although is a lagging indicator) and RSI has begun a bullish reversal.
USD/CAD
The USD/CAD pair has broken the upper trendline of a symmetrical triangle after breaking the 1.335 price level. The rally looks likely to continue as momentum indicators turn more bullish.
SILVER
Silver has broken both the 15.42 and 15.23 price levels as well as the ascending trendline indicating significant bearish sentiment in the pair, representing a break out of the trading range between the 15.23 and the 15.71 price levels. Momentum indicators are bearish; remaining in negative territory.
GOLD
Gold sellers have returned since the metal hit the 1322.43 price level. A series of breaks of key support areas has sent price action towards the 1279.66 price level. Momentum indicators are mixed with MACD breaking the zero line to the downside and RSI beginning a bearish trajectory.
OIL
WTI buyers are still alive as the commodity continues a moderate uptrend, with several tests of an ascending trendline that has been acting as a support level. WTI is once again testing the $60 per barrel range, however, given persistent oversupply; has struggled to stabilize at this price. RSI also continues to test the 70 overbought area whilst MACD is flat in bullish territory.
Follow Us on Facebook: