27.06.2017

AUD/USD's technical structure is positive since early May. Yet, in the short-term there will likely be renewed bearish pressures towards support given at 0.7520 (09/06/2017 low). In the long-term, we are waiting for further signs that the current downtrend is ending. Key supports stand at 0.6009 (31/10/2008 low) . A break of the key resistance at 0.8295 (15/01/2015 high) is needed to invalidate our long-term bearish view.

EUR/GBP is struggling to go any higher. Hourly resistance is given at 0.8866 (12/06/2017 high). Other support can be found at 0.8652 (08/06/2017 low). Expected to break lower symmetrical triangle. In the long-term, the pair has largely recovered from recent lows in 2015. The technical structure suggests a growing upside momentum. The pair is trading above from its 200 DMA. Strong resistance can be found at 0.9500 psychological level.

EUR/CHF's short-term bullish pressures are definitely on. The pair is riding higher within downtrend channel. Expected to show bearish pressures towards strong hourly support that can be found at 1.0792 (03/05/2017 low). In the longer term, the technical structure is mixed. Resistance can be found at 1.1200 (04/02/2015 high). Yet, the ECB's QE programme is likely to cause persistent selling pressures on the euro, which should weigh on EUR/CHF. Supports can be found at 1.0184 (28/01/2015 low) and 1.0082 (27/01/2015 low).

SILVER (in USD)
Silver's selling pressures are strong despite ongoing bullish consolidation. Closest support is given at 16.36 (21/06/2017 low). Strong support is given at 16.06 (09/05/2017 low). Key resistance is given at a distance at 19.00 (09/11/2017 high). The road seems wide open for further decline. In the long-term, the death cross indicates that further downsides are very likely. Resistance is located at 25.11 (28/08/2013 high). Strong support can be found at 11.75 (20/04/2009).

---------- Post added 06-28-2017 at 09:09 AM ---------- Previous post was 06-27-2017 at 09:52 AM ----------

28.06.2017

EUR/USD is trading higher. The pair is trading has broken strong resistance given at 1.1300 (09/11/2017 high). Hourly support can be found at 1.1076 (18/05/2017 low). Stronger support lies at 1.0842 (11/05/2017 low). Expected to consolidate below 1.1400. In the longer term, the momentum is clearly negative. We favour a continued bearish bias towards parity. Key resistance holds at 1.1714 (24/08/2015 high) while strong support lies at 1.0341 (03/01/2017 low).

GBP/USD has stopped its rebound. Hourly support is given at 1.2589 (21/06/2017 low). Hourly resistance at 1.2818 (14/06/2017 high) has been broken. Expected to show further renewed selling pressures. The long-term technical pattern is even more negative since the Brexit vote has paved the way for further decline. Long-term support given at 1.0520 (01/03/85) represents a decent target. Long-term resistance is given at 1.5018 (24/06/2015) and would indicate a long-term reversal in the negative trend. Yet, it is very unlikely at the moment.

USD/JPY has failed to monitor resistance givenat 112.13 (24/05/2017 high). Hourly support canbe found at 110.65 (16/06/2017 low). Strongersupport is located at 108.13 (17/04/2017 low).Expected to show continued pressures. We favor a long-term bearish bias. Support is now given at 96.57 (10/08/2013 low). A little rise towards the major resistance at 135.15 (01/02/2002 high) seems absolutely unlikely. Expected to decline further support at 93.79 (13/06/2013 low).

GOLD (in USD)
Gold's medium-term momentum is positive. Hourly support is located at 1236 (26/06/2017 low). Stronger support is given at 1214 (09/05/2017 low). Expected to show continued upside pressures. In the long-term, the technical structure suggests that there is a growing upside momentum. A break of 1392 (17/03/2014) is necessary ton confirm it, A major support can be found at 1045 (05/02/2010 low).

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