The EUR rallied during the day on Monday, but found enough resistance at the 50-day exponential moving average to turn around and form a less than spectacular candle.
The AUDUSD pair had a volatile session on Monday, reaching towards the 0.75 level above.
The USDCAD pair did very little during the day on Tuesday as we continue to hug the previous uptrend line.
AUDUSD is slowly trending higher, moving inside a rising wedge pattern visible on its 1-hour and 4-hour charts. Price is testing the resistance and could be due for a move back to support at the .7475 level.
The GBPUSD pair rallied on Monday, as the US dollar softened a bit overall.The 1.27 level above could be resistive yet again, but I think the real massive “ceiling” in this market is closer to the 1.2850 level above.
The AUDUSD pair rallied on Monday, testing the 0.75 level above as resistance.
Crude oil prices surged a huge $3 dollars or 5% higher at the Asian open with Brent briefly trading north of $57 and WTI above $54 a barrel before pulling back slightly.
The heavily bearish sentiment for gold continued to remain firmly in place once again last week, as the precious metal continues its stately progress ever lower, following the cataclysmic candle of the 9th November, when ultra high volume confirmed the heavy selling.
The EURUSD pair fell slightly but then turned back around to form a hammer.
The AUDUSD pair fell slightly during the session on Friday, but found enough support near the 0.74 level to bounce and test the 0.7450 level again. We found resistance there, as we have in the past, so now it looks very choppy to say the least.