The EURUSD found support ahead of the 161% extension of the May lows to June highs near the 1.0920 level.
Silver posted today an outside spinning top after a relentless 3 month rally higher.
The Gold silver ratio reversed lower last month from an almost all time record high (above 93).
The GBPUSD (Cable) has broken above the neckline of an inverted H&S formation on the 4h chart, following the positive statements form Merkel regarding a Brexit deal.
The USDSEK may have posted a false breakout with the daily RSI divergent. Typically, this isn’t good news for the US Dollar index.
Silver is probing a key downtrend line that has been in tact since mid 2017.
The DXY has rallied to the underside of the trend line but also back above the 200dma which does muddy the picture.
The EURUSD has closed above the 200dma and also the 35% Fibonacci retracement of the Sept 2018 highs to April 2019 lows.
Gold finally broke out higher from multi-year resistance, and that has certainly caught the market’s attention. Attempts have been made to explain this move, but what are really the factors that move Gold – both in the short term as well as the long term?
The USDJPY broke down under pressure with yields falling and gold rallying, the natural path of least resistance for the pair was lower.