The EURUSD remains neutral as range trading continues. Conversely, a break of slight resistance at 1.2188 will extend the check to 1.2348 high in the 1.2052 rebound. On the downside, strong support at 1.2052 will extend the 1.2348 correction Intraday bias will be turned back to the downside for 61.8% retracement of 1.1602 to 1.2348 at 1.1887.
The immediate technical bias in GBPUSD remains strong as the highs and lows on the daily chart continue to hold. Acceptance below the 1.3609 low on Tuesday will invalidate the lower lows and draw attention to the 50-day Simple Moving Average (SMA).which restricted the downside two times in December. The 50-day SMA is currently located at 1.3483.
The USDJPY looks stable but has not been able to fall below 103.30 over the last week. While below 104.05-102.15, we continue to look for a gradual fall in the pair towards 103-102.50 in the medium term.
AUD/USD is stable and could remain sideways within 0.78-0.7660 just now before indicating on further movement from there. Immediate view is to see a ranged movement.
From a technical perspective, the USD / CAD could risk high in the short term after the positive divergence in the RSI. This loss of speed is a sign of the end. Keep an eye on the 50 days Simple Moving Average (SMA) and the possible trend of falling from the top of the march. The downtrend must cross the 1.2590 – 1.2630 support zone.
Crude Oil remained well bid above $50.00 and it is currently showing positive signs. Also has risen from immediate trend supports on the daily charts and while it hold, we may expect a test of immediate resistance level $55. Immediate view for the coming sessions is bullish.
The price of gold has been falling from 1880$, which was seen last week, but we can assume that 1840$-1820$ will remain intact and will return to 1900 or higher in the medium term. Only when an interval below 1820 is observed is the metal subject to a sharp decline. For now watch price action near 1840$ and 1820$.
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