Gold and silver have remained in their downtrends. However, short-term price targets have been reached, so a pause or minor correction is possible. Since oil gave a long closing signal more than two weeks ago, the downtrend has persisted; until it breaks, a long signal cannot emerge. The rise in natural gas prices has stalled, but there may still be room for an upward move. Copper has broken its uptrend, so a slight decline is possible. Wheat and corn have paused after a trend-like decline due to oversold conditions, but it may still be too early to take a long position.
The dollar continued to strengthen following last Friday’s unemployment data, so the trends against its major counterparts remained intact. However, the dollar’s momentum is not significant, so the question of how long this momentum can last will soon arise again. The forint is holding its ground and remains firmly anchored against its major counterparts. Trading against the forint still does not seem like a good idea. For the USD/JPY currency pair, the target could be 162.5 above the 159.38 level. The EUR/CHF exchange rate is also trending upward; due to the breakout from the trend line, there may still be room for further upward movement.
Don’t look for excitement in the foreign exchange market; movements lack momentum and show no clear trend. The dollar is trading above the natural level of 1.1597 but below 1.1660 against the euro; it should break out of this range to provide a signal. The pound is also stuck against the dollar, so we are waiting for a signal. The forint’s strengthening momentum is beginning to subside against both the euro and the dollar, but there are no signs yet of a sustained reversal. For the USD/JPY currency pair, 162.5 could be the target above the 159.38 level. The EUR/CHF exchange rate may see a higher low, which could signal an upward reversal.
The chart shows a downtrend, as the price is still trading below the red trendline. However, it wouldn’t take much for us to see a buy signal. A close above 1.1660 could trigger a buying wave. Below, the minor natural level at 1.1597 is an important support; if it breaks, the area around 1.1475 could be the next reachable level.
Resistance levels: 1.1841; 1.1962; 1.2085; 1.2207; 1.2329; 1.2451.
Support levels: 1.1597; 1.1475; 1,1352; 1.1230.
Since the uptrend was broken, the curve has been in a neutral position amid trendless movement. A break above the red downtrend line could signal a buy. In that case, 1.3672 could be a possibility. However, if the price falls below 1.3428, the 1.3184 level could also be tested.
Resistance levels: 1.3672; 1.3916; 1.4160.
Support levels: 1.3184; 1.2939; 1.2812; 1.2695.
We are seeing a series of lower swing highs and lows, with downward momentum slowing. There is an important support level in the 351-355 zone, but for a structural shift to occur, the price would need to rise above at least 363.3. Until there is a change in the series of lower swing highs, going long does not seem like a good idea. A reversal pattern may still need time to develop.
Resistance levels: 375; 382,8; 390,6.
Support levels: 355.5; 351.5.
Due to the strength of the dollar, we may see a stronger retest, but not a new swing low. Resistance is beginning to form around 312.5, which could serve as a watershed between the long and short sides. If it breaks above this level, it could rise from a reversal pattern. If the rise is slow and the price remains below 312.5 for weeks, however, that would signal further downside risks.
Resistance levels: 320.4; 328.1; 343.75; 351.5; 359.38.
Support levels: 296; 289.2; 281.25.
The overall trend is upward, as indicated by the thin green trendline. In recent days, the price has begun to break above the 159.38 level, which suggests upward momentum. There is a chance it could reach a new high, but 162.5 could still prove to be a strong resistance level.
Resistance levels: 162.5; 165.63; 168.75.
Support levels: 156.25; 153.125; 151.5; 150.
The slight downward trend suggests there is a chance of a reversal. A minor rise is possible, and an upward pattern may form. If the price moves above 0.9155, 0.9277 could be reached.
Resistance levels: 0.9277; 0.9399; 0.9521; 0.9644.
Support levels: 0.9155; 0.9033; 0.8911.
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