INT
Gold Buyers Return To Push Price Action Beyond Key Resistance Area
- 12 Oct 2018
USD/JPY
The USD/JPY pair has bounced back from the 111.81 support line, after a series of doji candles indicate a stall in the bearish move. A momentum reversal is taking place on MACD whilst RSI has stalled in neutral/bearish territory.
EUR/USD
The EUR/USD pair has broken the 1.153 price level and is now approaching the 1.164 price level. MACD is also approaching the zero line to the upside and RSI has an upward trajectory.
GBP/USD
The GBP/USD pair has broken the 1.306 price level and is now approaching the 1.330 price level. Momentum indicators are bullish; RSI is fast approaching overbought conditions and MACD is pulling away from the zero line.
USD/CHF
The USD/CHF pair has returned from testing the 0.993 price level and appears to be taking on a bearish trajectory. Momentum indicators are retracing from a bullish position; with MACD flattening just above the zero line and RSI reaching overbought conditions.
USD/CAD
The USD/CAD has stalled mid-way through a bullish reversal after having broken the 1.302 resistance level. RSI has reversed its position from oversold conditions and MACD appears to be undergoing a momentum reversal.
SILVER
Silver has retraced back towards the 14.41 price level after the recent bullish move failed to gain traction. MACD appears to be on the verge of a break of the zero line. RSI has flattened in neutral/bearish territory.
GOLD
Gold has managed to break the elusive 1209.70 price level, however, bears appear to have returned in today’s trading. Momentum indicators have turned sharply bullish; with MACD breaking the zero line to the upside and RSI reaching overbought conditions.
OIL
Oil price has rejected the ascending trendline, falling back to break both the 73.44 and 72.02 support levels. Momentum indicators are also reversing, MACD has become less positive and RSI has pulled back from overbought conditions.
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