USDCAD is sitting on 50% fib level. Fed speeches next week should determine direction, but for now, there is no divergence in CCI or RSI so further downsides are likely. Comment your ideas! Trade with care!
USDJPY is about to test its 2017 trading range. A break above 113.5 would be an extremely bullish sign, but rejection is likely as the resistance is strong and overbought levels have almost been reached. Wait for confirmation.
Broke past the 123.14 level yesterday. CCI has already shown divergence so a break back below this level would be extremely bearish for the pair. RSI shows overbought levels were reached a few days ago
After a huge crash in oil during yesterday's trading session, oil seems to have slipped yet again. With no support levels in the 44's downsides will likely continue until it hits fib resistance at 43.22 and support line resistance at 42.50.
The gold/silver ratio tried to breakout from the 75.1 resistance line but as of now it has be rejected. A break above this will lead to 76.6. A rejection tomorrow will lead to the 73.3 level. Wait for confirmation.
Gold closed below the 2017 trading range, but it has a chance of getting back into it today. CCI is still well below the -100 level so wait for confirmation before going long. A break below 1219 would be extremely bearish while a break back into the trading range would be bullish.
EURJPY is nearing strong resistance at 123-124. A break above these levels would be an extremely bullish sign since the 20day Moving Average will cross above the 200day Moving Average. Wait for confirmation before you trade.
Bearish data came out today, but the 47.02 resistance level held. A bounce from this level could lead CCI to cross above -100. Watch for confirmation but, oil could be a buy soon.
Twas a sad day for silver traders today. The 16.60 resistance line was breached and the 20-day moving average has just crossed below the 200-day moving average. The next point of resistance is at 16.13. If that does not hold, then the mid $15 range is in play. The large CCI divergence tells us that a turnaround will come, but it seems we will have to wait until...
The gold/silver ratio continued past the 73.37 resistance line on Friday but bearish CCI divergence has formed over the last week. A hammer candlestick pattern also formed on Friday sending signals that rally could be over. RSI shows that the pair is overbought.
