Energies
EURUSD shows a strong upward trend that has been going on for two weeks now as the US dollar continues to decline against major currencies. Today, the pair broke above 1.1400 level and is now eyeing the 1.1450 resistance level.
All moving averages MA (5,10,30) are aligned bullishly. MACD had Bullish crossover recently, confirming upward momentum.
The overall outlook on the pair is bullish unless price drops below 1.1350
EURUSD Daily Chart
| Resistance | 1.1450 | 1.1493 | 1.1525 |
| Support | 1.1382 | 1.1332 | 1.1300 |
GBPJPY bounced from its monthly low at the 192.00 level and is now experiencing a sharp rise towards 194.00 levels. Short-term and mid-term moving averages MA (5,10,30) are pointing upward confirming the bullish bias.
MACD shows strong bullish momentum, with a wide gap between signal and MACD line.
The overall view of the pair is positive. Breaking above the resistance near 194.17 opens the door for more expansion towards 195.00
GBPJPY 1H Chart
| Resistance | 194.30 | 194.60 | 195.25 |
| Support | 193.23 | 192.60 | 192.00 |
Oil prices have been fluctuating for the past two weeks. After hitting $64.41, price dropped to $60.39, then slightly rebounded to $62.00. Dynamic support level of moving average 30 is holding prices above. A retracement toward this moving average could push prices higher.
MACD shows bearish signals which could support the downward correction scenario before continuing with the short-term uptrend.
West Texas Intermediate (USOUSD) 1H Chart
| Resistance | $61.87 | $62.31 | $62.85 |
| Support | $61.00 | $60.41 | $59.83 |
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