Saxo

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USDJPY has rebounded from its 0.786 retracement at 151.75. The strength indicator RSI is still showing positive sentiment with no divergence. That is a strong suggesting USDJPY is to rebound higher. An RSI close back above 60 threshold will confirm the bullish rebound picture. A bullish move over the next couple of weeks to the 0.618 retracement at 157.05 is in...

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USDCHF key support at 0.90! A break below is likely to fuel a sell-off down to the 0.382 retracement of the uptrend since its December low i.e., down to 0.8883. Around that level both the 200 and 100 daily Moving Average are coming up adding to the support. RSI has been illustrating divergence for a few weeks by now indicating uptrend exhaustion However, if...

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GBPUSD spiked to the 0.786 retracement at 1.2622 only to collapse back below the 0.618 retracement. RSI failing to close above 60 threshold thus still showing negative sentiment, and with no divergence indicating GBPUSD is likely to resume downtrend and push lower in coming weeks. A break below 1.2465 will confirm the bearish trend has resumed with downside...

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EURUSD spiked late last week above the 55 and 200 daily Moving Averages and close to the 0.786 retracement at 1.0824 before retracing back below the 0.618 retracement at 1.0776. In three tries, EURUSD failed to close above the 0.618 retracement and RSI failed to close back above 60 thresholds. All Moving Averages are declining, putting a drag on EURUSD. The cross...

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Gold (XAUUSD) is back below key support at 2,319 after failing to close above 2,350, which would have confirmed the resumption of an uptrend. If Gold breaks below 2,291, it is likely to face a sell-off down to between 2,260 and 2,255, and possibly even lower to around 2,207, which is the 0.786 retracement of the leg up since March. The strength indicator RSI has...

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USDCAD seems to be attracting bids just above the 0.618 retracement and support at 1.3618. Since RSI is still showing positive sentiment with no divergence, break above 1.3731 combined with an RSI close back above 60 threshold will confirm USDCAD has resumed uptrend with upside potential to 1.3928, possibly higher A daily close below 1.3618 will reverse this...