Energies
Gold is less than $15 from the $3,400 level
Gold continues to break new levels as the USD weakens. In early trading on Monday, oil broke above short term averages MA(5), MA(10), and MA(30) on the hourly chart. As of now the price of gold ounce is trading at $3,385.97. The RSI bearish divergence warns of possible reversal in price. However, traders need to be cautious and the strong momentum on the hourly candlsticks doesn’t show slowing down.
XAUUSD 1H Chart
USDJPY drops more than 150 points
And the US dollar remains weak against major currencies, USDJPY fell sharply during the Asian session losing 1.10% within a few hours. The next main support level on the pair is 140.00 psychological level. However, the RSI is already in the oversold zones and even dropped below the 20 level on the hourly chart. Short-term resistance level to watch out for is 141.20
USDJPY 1H Chart
GBP gains more than 100 against the US Dollar.
Since early trading this morning, the British Pound has gained momentum against the U.S. dollar almost touched 1.3400. GBPUSD is now trading at its highest levels since September of 2024. With the RSI showing overbuying on the hourly chart, correction to the support levels 1.3205 and 1.3082 are possible before continuing with the uptrend.
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