Have Fortunes Changed For The GBP/USD Pair?

  • 23 Apr 2019

Be The 1st To Redeem $50 Cash Rebates! Limited-time offer! Get it now!

USD/JPY

 

The USD/JPY pair has fallen back below the ascending trendline and is once again testing the 111.75 price level which represents a previous resistance level. Momentum indicators also reflect bearish sentiment with both MACD and RSI assuming downward trajectories.  

 

 

 

 

EUR/USD

 

The EUR/USD pair is experiencing significant volatility as a result of macroeconomic factors. The descending trendline has become an obvious target for buyers as the pair has once again rebounded from this support line in recent trading. Price action is testing the 1.125 price level. Momentum indicators are neutral/bearish.

 

 

 

 
 GBP/USD

 

The GBP/USD pair has broken the ascending trendline to the downside representing a break of the long-term uptrend. However, since hitting the 1.297 support line buyers have returned. Momentum indicators have stalled in bearish territory. 

 

 

 

USD/CHF

 

The USD/CHF pair has broken the recent price high at the 1.010 level with a strong bullish move and the rally looks set to continue. Bullish candles indicate residual appetite from buyers. Momentum indicators are strongly bullish with RSI breaking the 70 resistance level. 

 

 

 

 

USD/CAD

 

The USD/CAD pair has broken the upper trendline and the 1.335 price level although has failed to make progress beyond this resistance area. A bullish breakout is expected. Momentum indicators are currently neutral but remain in bullish territory.

 

 

 

SILVER

 

Silver has broken the 15.23 support line and the metal has assumed a new trading range after a recent sell-off. The next target for sellers is the 14.76 price level, however price action has stalled with a series of doji candles indicating indecision. Momentum indicators are bearish with RSI stalling above the 30 oversold line. 

 

 

 

 

GOLD

 

Gold has broken the 1279.66 support level representing the end of the recent rally. The metal has broken out of a trading range between the 1279.66 and 1322.43 price levels which may signify longer-term bearish sentiment. Momentum indicators remain bearish, although RSI has reached oversold conditions.

 

 

 

 

OIL

 

WTI buyers are beginning to dominate price action with the ascending trendline acting as a strong support for the commodity. WTI has reached the target of $65 per barrel and the $70 per barrel range is in sight. RSI has climbed above the 70 resistance area in support of the current rally.   

 


Follow Us on Facebook:

Sign up to get started

Open Demo Account
Open Live Account
Promotions