The volatility of the oil price these days questions the previously taken uptrend. Or does it not?
Gold is overbought
Information is not investment advice
On the daily chart of XAU/USD, the pair reached the high of February at 1,346.64. As a result, the pressure is high. RSI indicator is in the overbought area that signals a possible correction. Before the indicator crosses the 70 level from top to bottom, the pair has chances to continue the upward movement but an increase will be limited. The next level the pair may touch before the correction is placed at 1,357.45.
As soon as the pair turns around, we may see a slide towards 1,324. A close below this level will provoke a further decline to 1,305.45.
AUD/JPY finds itself at the crossroads of several trends - we will use various time frames to foresee the possible scenarios.
EUR/AUD has been in consolidation lately; are there any clear bullish signs or it is better to hold positions?
USD/CHF formed a “hammer” candlestick on the D1. The most recent price low wasn’t confirmed by the Awesome Oscillator on this timeframe.
This week brought various economy news releases related to GBP. What is the layout of the British pound?
Read the opinion by Morgan Stanley and ANZ on the performance of AUD in Q1