A Reversal On The Cards For USD/CHF?

• 29 Apr 2019

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USD/JPY

 

The USD/JPY pair has fallen below the 111.65 price level after a strong sell-off at the end of last week. Buyers appear to have returned to some degree however, a small-bodied candle indicates little conviction. MACD has a downward trajectory yet RSI is neutral/bearish. 

 

 

 

 

EUR/USD

 

The EUR/USD pair is experiencing significant volatility as a result of macroeconomic factors. The descending trendline indicates the long-term trajectory for the pair is bearish. The pair is approaching a previous support area at the 1.118 price level. A bullish momentum reversal is underway on both MACD and RSI which supports current price action.

 

 

 

 
 GBP/USD

 

The GBP/USD pair is testing the 1.295 price level after extended bearish sentiment. A series of doji candles indicate lack of conviction from both buyers and sellers. Again a momentum reversal on RSI and MACD could suggest a change in direction for the pair. Most likely, fundamental factors will play a big role in future price action.

 

 

 

USD/CHF

 

The USD/CHF pair appears to be on the verge of a reversal. A series of doji candles indicate a break in the current rally. Selling pressure is rising with extended upper shadow candles. The pair has also failed to break a recent high at the 1.021 price level.  The next target for sellers is the 1.015 price level. Momentum indicators remain somewhat bearish.

 

 

 

 

USD/CAD

 

The USD/CAD pair is once more testing the 1.346 price level to the downside and a break will likely send price action towards the 1.335 price level. Momentum indicators reflect the change in sentiment and are turning more bearish. 

 

 

 

SILVER

 

Silver has broken the 15.00 price area although this area represents a sticking point for the metal. The next target for buyers will be the 15.24 price level and the question is whether buyers have the appetite. Momentum indicators reflect the bullish sentiment with reversal underway. 

 

 

 

 

GOLD

 

Gold has touched and bounced back from the 1271.91 support level and as such is testing the 1285.45 support line. A break would prove significant considering the longer-term trend has been bearish. Bullish momentum reversals are underway.

 

 

 

 

 

 

 

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