Technically, EUR/USD remained in bulls' hands on Wednesday. Buyers reclaimed 1.1550 and stepped back afterwards. The spot is correcting heading towards 1.1500 now. The resistance resides at 1.1550, the support comes in at 1.1500.
We prefer to wait until the current correction is over before buying the euro again.
Sellers were unable to drive the pound below 1.3000. The level rejected the price which reversed a minor portion of its recent losses on Tuesday. However, a bearish tone returned in the night. Sellers drove the major lower and erased all its recent gains. The pair approached 1.3000 by noon. The resistance lies at 1.3100, the support comes in at 1.3000.
Inability to return the major above 1.3050 may send the market to 1.3000, en route 1.2950.
Sellers managed to break 112.00, however, they failed to fixate below the level. After posting a daily low at 111.67 the price pulled back and returned to 112.00 in the night. The pair continued its recovery in the morning. The resistance lies at 113.00, the support comes in at 112.00.
The bearish momentum is likely to be regained. Sellers may drive the spot to 111.50 in this scenario. However, the USD/JPY pair needs to correct first. The pair may grow to the upper limit of the downward channel (112.50).
The bullish momentum was strong enough to push the price above 1240. Gold prices reached 1245 and stopped after that. Buyers did not find any reason to push the pair higher. Sellers used this chance and regained control during the Asian session. They returned 1240 and pushed the price to 1235 afterwards. The resistance exists at 1240, the support stands at 1230 dollars per ounce.
The yellow metal is still in a near-term upward channel. The price is heading towards its lower limit at 1230 dollars per ounce now.
Brent oil prices almost reached the 49.50 level when the benchmark found fresh sell orders. As a result, the price returned to 48.50. The resistance lies at 49.50, the support lies in at 48.50 dollars per barrel.
If bulls retain control Brent oil prices may reclaim 49.50 dollars per barrel. If they break the level the road to 50.50 will be open.
Read the full review on our site:
Welcome Bonus $75 returns, for 10 days only! Experiment with market trading without depositing. Trade indices, Forex, precious metals, futures, stocks – full range of instruments on one account!
Starting from 06 June 2019, FortFS reduces spreads for 4 most popular contracts! From 06 June until 19 July 2019, the 4 most popular contracts spreads will be: EURUSDf: 0.8 GBPUSDf: 0.9 USDJPYf: 1.0 XAUUSDf: 3.5 Good Luck! Fort Financial Services – Citadel of trading