Silver Bears Continue To Growl
There seems to be no end in sight just yet for silver, which continues to remain beaten down and unloved, and dragging its more illustrious cousin gold down with it.
NFP
AUDUSD finally dips towards 0.75 ahead of RBA, NFP
The Australian dollar is going to be in focus next week. Retail sales will be released on Monday while the Reserve Bank of Australia will be making a decision on interest rates a day later on Tuesday.
USDJPY Short-Term Correction Nov 28, 2016
USDJPY is trending higher on its 1-hour chart, moving above an ascending trend line connecting the latest lows of price action. Price is currently testing this support area, which lines up with the 61.8% Fibonacci retracement level and the 100 SMA dynamic inflection point.
AUDUSD Ascending Channel Apr 4, 2016
AUDUSD has been trending higher on its short-term time frames, moving inside an ascending channel visible on the 1-hour and 4-hour charts. Price is currently testing the top of the channel around the .7700 major psychological level and might be due for a drop towards support.
GBPUSD Trend Line July 2, 2015
GBPUSD is currently testing the rising trend line connecting the recent lows of price action on the 4-hour time frame. The pair is also drawing support at the 50% Fibonacci retracement level and the 100 SMA.
Round Up Of The Currency Majors As USD Continues To Remain Weak
With the US dollar continuing to remain under pressure, despite last week’s positive jobs data, and with various central bank governors adding their weight to the mix, it’s a good time to take a quick look at our four major currency futures of the AUD/USD, CAD/USD, EUR/USD and the GBP/USD.
GBPUSD Major Correction – Jan 12
GBPUSD is showing signs of a pullback, as price previously found support near the 1.5000 major psychological level. Using the Fibonacci retracement tool on the latest swing high and low on the 4-hour time frame indicates that the 61.8% Fibonacci level lines up with a former support zone.
USDJPY Bullish Pennant (August 1, 2014)
USDJPY has recently made a strong upside breakout from the descending triangle on a longer-term time frame. From there, price has made a strong rally past 102.00 then formed a bullish flag pattern, indicating that there could be buying pressure left.
Time to dust off the worry beads! – VIX
Whilst everyone’s attention on Friday was focused on the monthly circus which is the NFP, the VIX on the other hand slipped quietly and almost unnoticed below the 11.00 price point on the daily chart, to close the week at 10.73, its lowest level for many years.
Crude Oil Ahead of the non-Farm Payroll
WTI Crude Oil (USO, quote) is trending higher in early trading by $0.88 or 0.87% at $101.16 ahead of the non-Farm Payroll Report. It’s worth noting that crude oil typically remains flat ahead of the report.