Buyers Do Not Have Enough
Indices are firm in the middle of the week with the SP500 flirting with all-time-highs and the Nasdaq coming back above major supports. Two main indices are slightly behind: the DAX and Nikkei but we cannot say that there is a major bearish situation there. At least not yet.
Gold protected the crucial mid-term up trendline and saved its positive sentiment.
Brent Oil escaped from a few days long consolidation and is aiming for new long-term highs.
The USDCAD consolidated above the strong long-term horizontal support, which may indicate willingness for a breakout.
The ERUCHF keeps dropping but the price is getting closer to the mother of all supports, where the situation can get very interesting.
The EURAUD is in a very clean price action setup, where the price bounces from a combination of two horizontal and one dynamic resistance. As long as we stay below, the sentiment is negative.
For a look at all of today’s economic events, check out our economic calendar.