Energies
The US dollar rose against major currencies on Tuesday and is currently expanding these gains as the dollar index heads for the critical level of 100.
EURUSD shows a downtrend on the hourly chart with the moving averages slopping downward as well. The bearish momentum is expected to continue until the major support level 1.1257.
Watch out for any correction towards the resistance levels mentioned below, as well as the dynamic resistance level of the moving average MA(30)
MACD shows minor uptick on the pair, but the overall trend remains bearish.
EURUSD 1H Chart
| Resistance | 1.1346 | 1.1376 | 1.1393 |
| Suppott | 1.1295 | 1.1273 | 1.1257 |
USDCHF shows a clear uptrend on the hourly chart opposite to the EURUSD trend as the two pairs have a strong negative correlation. The overview of the pair is positive as the technicians support higher prices in the short term.
Price is currently finding support at the moving averages MA(5) and MA(10). A bearish correction towards the dynamic moving average MA(30) can push prices higher.
USDCHF 1H Chart
| Resistance | 0.8307 | 0.8329 | 0.8350 |
| Suppott | 0.8260 | 0.8245 | 0.8232 |
Gold prices have been fluctuating for the past two weeks. The short term trend is currently bearish as the moving average MA(30) is slopping downwards. MACD shows weak bullish movement as the price is trading at the three moving averages MA(5), MA(10) and MA(30).
The short term view of gold is bearish. Eyes on the $3,250 level.
Gold (XAUUSD) 1H Chart
| Resistance | $3,315 | $3,326 | $3,347 |
| Suppott | $3,291 | $3,285 | $3,275 |
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