Silver With a Major Reversal

Indices are moving rather sideways and that can actually be the case for the next weeks. The sentiment is not good enough to drag the prices to new all-time highs but on the other hand, there is so much money on the market that it will be hard to see any bigger drop. That being said, I think that the sideways trend will be option nr1 for the market in the nearest future.

The EURUSD dropped lower after breaking major supports.

The GBPUSD on the other hand, is climbing higher and currently testing a crucial resistance.

The USDCAD bounced off a crucial horizontal resistance and is still going towards a long-term sell signal.

The GBPJPY is moving sideways and is getting closer to a major breakout, which should not be missed.

Silver is climbing back above the crucial support, which is based on a false breakout, giving us a proper buy signal.

For a look at all of today’s economic events, check out our economic calendar.

Gold, on the other hand, is still in no man’s land but pay attention how well it respects the closest Fibonacci levels, real technical beauty!