Chart of the Day -XAGUSD (Silver) – (Feb 21st 2019)
The Silver market has potentially double topped. More importantly, this is happening at a key Fibonacci level and previous support from the lows back in April 2018.
The Silver market has potentially double topped. More importantly, this is happening at a key Fibonacci level and previous support from the lows back in April 2018.
A breakout higher or lower out of this triangle will happen following the Australian employment data tonight.
The AUDUSD has a bear flag setting up before some key economic events.
Gold has spent the last couple of weeks consolidating its gains in what looks like a bull flag.
The USDCHF rally has been very strong in the last several weeks from the beginning of the year, but the pair has ran into a wall of resistance at the multiyear trend line that spawns back from the end of 2016.
Consolidation patterns, like a triangle, can be very explosive patterns when it comes to the markets because the market is “winding up” for so long.
The AUDJPY fell aggressively overnight to channel support following RBA Governor Lowe’s comments about the path of the next rate move would be.
The USDSEK is not a currency pair that Forex Analytix commonly follows, but at times it is worth noting.
The USDCAD will apparently close the week below the 200DMA.