The GOLD market is struggling to close over the resistance at 1852.0. A close over 1852.0 should secure a turnaround and launch a drive to higher levels. A continued roll off from 1852.0 today warns for a drop back lower. A close under 1811.0 is needed to rekindle bear trending selloffs ⇒ 1791.0.
The SILVER market is struggling to close over the resistance at $24.30. A close over $24.30 should secure a turnaround and launch a drive to higher levels. A continued roll off from $24.30 today warns for a drop back lower. A close under $23.52 is needed to rekindle bear trending selloffs ⇒ $22.65.
The market is overbought for five consecutive days and showing the begining for a Down curve on MACD. The EURUSD is signaling a start for a bear downturn with the breakout under the previous swing low opening up potential for a wash to 1.2044 - 1.2016. Trade is poised for follow through pressing declines. Any corrections will likely stay trapped below 1.2180. R2 1.2185 R1 1.2165 S1 1.2121 S2 1.2100
Overall the USDCHF market is bearish with a downside breakout likely sending trade to attack a 0.8859 low. A close under 0.8859 is bearish. Corrective rebounds trapped by 0.8920 will maintain bear forces. A close over 0.9032 (SAR) confirms the start of a reversing upturn. R2 0.8945 R1 0.8920 S1 0.8884 S2 0.8859
The USDJPY market remains caught in sideways congestion. The Yen still in a sideways down status for the third week, with 104.34 as Resistance and 103.32 as Support. R2 104.34 R1 104.06 S1 103.60 S2 103.32