Trump Helps to Make New Yearly Highs on Gold, Silver and New Yearly Lows on EURJPY

Save heaven assets continue their up trend additionally supported by the comments from the POTUS that USD is too strong (and we all know that safe heaven assets like Gold or Silver are quoted in USD).

Gold beat a very important resistance yesterday – the dynamic one connecting long-term lower highs. The second one, crucial for the long-term situation is 20 USD away and is a horizontal resistance (grey). We are still making higher highs and lows and the chances that the price will get there soon are relatively high.

And we have Silver, which also broke the down trend line connecting recent lower highs and already used that as a support. They are one point ahead of the gold but they still have to deal with the horizontal resistance, which probably will happen today as they are trying to break it as we speak. What is more, we do have an inverted head and shoulder pattern here, which promotes an upswing.

EUR/JPY broke the lower line of the long-term flag and according to the technical analysis it should be heading south in the next few weeks.