LITECOIN could start to see a rise again as the market looks to be slowing around the key support levels around $170.00.
Price looks to be slowing down as it approaches the trend line support which was once resistance. If we see bullish price action here we could look for long
opportunities back into the highs.
GOLD has been on a tremendous run of recent and continues to test new highs. Looking for the market to have some form of correction however if the USD fail to kick in we could see the trend line being used as support and a break up to $1400.00. If we were to break lower we could see GOLD re-testing the $1300.00 level.
The GBP has been getting slightly stronger recently however the is still some uncertainty, so further weakness of the GBP, and that would hit a lot of Sell orders around the 0.8900 area potentially in time for further GBP strength off good Brexit news.
AUDUSD bounced perfectly of the 0.7500 level as expected. Price continues to move higher and is approaching the next weekly resistance level. The moving averages have crossed now and expect continued upside as the weekly trend seems to be starting. Ideally we would like to see a pullback into the support zone and 61.8 Fibonacci before looking for long...
From a technical perspective USDCAD could run up by roughly 300 pips if it closes above 1.2910 mark. The RSI is not over bought, MACD is showing the start of a move higher as the histogram has moved over the zero line. ATR is decreasing, showing less volatility which is a very common indication on market direction being long. The trend lines show a clear stair...
As we are looking for GBP to continue to gain strength we can determine we may see FTSE100 fall. Correlation shows the stronger GBP gets the more likely they FTSE100 is to go short. Looking for short opportunities into the key level and 1.618 golden fib ratio of 7190-7200 before looking for a long position.