Despite the sharp pullback from the recent 1263 high to the recent 1190 low, Gold is still trending higher within it's short term bullish channel, whose support line currently stands at 1180. This also corresponds to 38.1% of the rise from the December 1046. As such the short term trend stays bullish above 1180.
The USDJPY cross has broken below the major 115.82-116.18 support zone, which includes various lows made since late 2014, the 38.2% retracement of the rise from 100.82 to 125.68, and the neckline of a bearish Head and Shoulders pattern that has been unfolding since November 2014. As such the cross should continue lower in the medium term and be sold on strength,...
THE EURUSD bottomed at 1.1086 today, just above the key 1.08 support levels where the 38.2% retracement of the 1.08-1.124 rise meets thew corresponding channel's lower boundary
