Oil has been trading sideways, yet we are bullish where price is anticipated to reach 55-60 area.
Like Gold, Silver may reach 21.50-22.00 area days from now.
Gold is seen to push towards 1390-1400 area days from now while awaiting NFP on Friday.
And yes, based on our last analysis, Crude Oil almost managed to touch the 48.00 area we are waiting. Price is already starting to rally, but a confirmation beyond 50 area must be seen first.
USDJPY was not able to break below 105.54. Instead, it created new highs for the past trading days. If price rally above 108 area, it suggests that bulls are in control once again.
We may still see cable move upside temporarily. But overall trend of GBPUSD is still down.
Still waiting for EURUSD to break away from its bearish channel (red) to confirm bullish move targeting 1.1375 - 1.1495.
As we've stated in our previous analysis, we expected AUDUSD to continue rising towards its 61.8% retracement level. But price declined to as low as 0.7330. We still anticipate aussie to rally to 0.7570 before trending down. A break from its bearish channel (red) would give us a clue.
As we've stated in our previous analysis, we expected AUDUSD to continue rising towards its 61.8% retracement level. But price declined to as low as 0.7330. We still anticipate aussie to rally to 0.7570 before trending down. A break from its bearish channel (red) would give us a clue.
Unlike Gold, Silver may still move one step high reaching 17.55 before turning bearish.
As mentioned in our previous analysis, Gold's movement is limited, and it almost did reach the 1290 area. As for now, we are on a wait and see status, whether price would still move up to 1290. A break below 1275 suggests that bears are back.
Price managed to break from its channel but wasn't able to reach the 54.00 mark. Instead, it went down, targeting 48.00 - 47.80 before we see price soar up again.
Last week, Aussie did retrace up to 0.7500 level but wasn't able to reach our max target at 0.7570. Price temporily corrected down, and while it is still contained inside the bullish channel (yellow), we can still see this pair rally toward its 61.8% retracement or even higher.
Last week, Euro did make a new high at 1.1420 before price declined. For the moment, we may see price rise up again towards 1.1325 - 1.1345 before becoming bearish again.
Like Gold, Silver was able to reach its target at 16.90 - 17.20 and managed to break out of our bullish channel. This metal could still move up, maybe retracing up to its 78.6% level at 17.55 before moving down once again. A break beyond previous high of 17.99 will suggest that bulls are still in control.
Gold hit previous targets at 1263-1265. Upside movement could be limited towards 1288-1290 areas. Break of previous high of 1304 might suggest that a bottom has been achieved already.
Cable was not able to move up to our target from our previous analysis. Instead, it continued moving down, which tells that a top has been formed already. Price has room towards its 1.618% fibonacci level at 1.4055 before it corrects up.
Cable's movement shows it is still on its corrective stage which might top at 1.4675 - 1.4730 areas.