US Dollar Weakens Against Most Major Peers

• 8 Oct 2018

 

 

USD/JPY

The USD/JPY pair has broken the 114.19 price level and despite the break, a series of doji candles indicate indecision and the pair is currently consolidating just above the 113.54 support level. Momentum indicators have reversed a previous bullish position; with RSI pulling back slightly from the 70 resistance level.

 

 

 

 

 

EUR/USD

The EUR/USD pair has broken the 1.153 price level, however, the break appears to have inspired buyers to return to the pair. Bullish price action has seen the pair test the 1.153 price level once again. Momentum indicators are mixed; with MACD crossing the zero line and RSI reversing from the 30 support level.

 

 

 

 

 

GBP/USD

The GBP/USD pair has broken the 1.306 price level as well as testing the ascending trendline. Previous tests of the ascending trendline have resulted in a bullish retracement and that appears to be the case again. Momentum indicators are mixed; RSI has reversed a previous bearish trajectory and MACD is approaching the zero line.

 

 

 

USD/CHF

The USD/CHF pair has broken the 0.981 price level and is now testing the 0.993 price level. Momentum indicators are bullish with MACD breaking the zero line to the upside. RSI has flattened at the overbought area.

 

 

 

 

USD/CAD

The USD/CAD is undergoing a bullish reversal and has moved to test the 1.294 price level. RSI has reversed its position from oversold conditions and MACD appears to be undergoing a momentum reversal.

 

 

 

 

SILVER

Silver has broken the 14.41 price level in an apparent bullish move which may send price action towards the 14.91 resistance line. However, a series of mildly bearish doji candles equate to indecision from market participants. MACD has turned sharply bullish and is heading towards the zero line. RSI has falttened in neutral territory.

 

 

 

 

GOLD

Gold buyers have returned to the market after a previous rejection of the 1209.70 price level. Again the metal appears to be consolidating just below the resistance level. Momentum indicators are neutral with MACD falling just short of the zero line.

 

 

 

 

OIL

Oil price has rejected the ascending trendline, falling back to test the 73.44 support level. Momentum indicators are also reversing, MACD has become less positive and RSI has pulled back from overbought conditions.