The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
Silver (XAG/USD): will we see further weakness?
Silver has been trading around the 200 SMA, where the bears could take advantage of the broad-based weakness seen during the last few weeks. However, XAG/USD is targeting the Fibonacci area of 50% at 16.69, at which we can expect further pullbacks in order to resume the overall bearish bias. If that happens, then the focus will switch towards the 15.73 level, where is located the Fibonacci zone of -23.6%.
RSI indicator stays in the positive territory, calling for another leg higher.
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
It looks like GBP/JPY is finally trying to break out of the recent consolidation. Learn more!
GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.