The euro spiked on Thursday. However, the buying momentum did not last long. The single currency just tested 1.1400 setting a local high at 1.1424. The spot remained unchanged the whole European session hovering above 1.1400. The resistance is at 1.1450, the support comes in at 1.1400.
We are bullish so far. If buyers preserve control we may see the 1.1450 level test.
The pound was positive in the middle of the current week. The Cable pushed away from 1.2900 on Wednesday and grew upwards almost reaching 1.3000. However, the buying impetus lost its legs a few pips below the level. The market changed its direction on Friday and started a new decline. The major erased all buyers’ gains on Friday and returned to 1.2900. The resistance lies at 1.3000, the support comes in at 1.2900.
Sellers dominate in the market. If they retake 1.2900, which is very likely, they will aim at 1.2840 first.
Buyers keep trying to leave the current consolidation range. They seem to have all chances to succeed now. The US dollar caught a fresh bid-wave in the Asian session and rallied towards 114.00. Buyers managed to set a fresh local high at 113.83 overnight. The spot remained around its fresh highs during the day trades. The resistance lies at 114.00, the support comes in at 113.00.
If buyers manage to break through the 114.00-114.34 area we could see another bullish phase. Bulls may lead the price to 115.00 in this scenario.
The XAU/USD pair presented a modest bearish tone during the night and morning trades. The yellow metal extended its losses and touched 1220 in the Asian trades. Gold stayed at the level after testing it. The resistance exists at 1230, the support stands at 1220 dollars per ounce.
We will remain bearish until we see a break above 1235-1240. Bears are likely to remain in driver's seat. A break below 1220 may trigger fresh weakness to attack 1210 dollars per ounce.
A bearish tone prevailed on Thursday. The benchmark was declining the whole day. The selling interest remained intact in the night. Brent oil prices gapped downwards at the daily open. Sellers tried to break 47.50 dollars per barrel afterwards but lost steam for a while. Oil prices remained around 47.50 in the late Asian session and in the European morning. Sellers continued pushing the price lower during the day. They left 47.50 behind and headed towards 46.50. Bears reached the level in the late European session. The resistance lies at 47.50, the support lies in at 46.50 dollars per barrel.
A firm break below 46.50 handle would open 45.50 dollars per barrel.
Read the full review on our site:
WHAT ARE THE BENEFITS OF MEGAPROTECT BONUS? +100% of the deposited amount! 100% protection during the drawdown Up to 5000 USD per one account Up to 15000 USD per one profile
FortFS wishes its clients happy upcoming holidays and announces the start of the annual promotion – Christmas Fairy Tale! From December 02, 2019 to January 10, 2020 you can participate in the promotion and get up to $15 for every 10 closed lots with a trading account balance starting from only 100 USD! How to […]