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SILVER TECHS

Bullish Extension

GOLD TECHS

Heading North

WTI TECHS

(M1) Needle Still Points North

BRENT TECHS

(N1) Bullish Conditions Remains Intact

USDCAD TECHS

Extends Lower With Bears In Charge

Upside Risk Sticks For Now

EURO-YEN TECHS
  • RES 4: 126.94/81 2.0% 10-dma envelope / High Apr 17, 2019
  • RES 3: 125.97 50% 2018 - 2020 Decline
  • RES 2: 125.85 2.0% Upper Bollinger Band
  • RES 1: 125.58 High Aug 6
  • PRICE: 124.94 @ 05:26 BST Aug 7
  • SUP 1: 123.73 20-day EMA
  • SUP 2: 122.84 Low Jul 24 and key support
  • SUP 3: 122.47 Low Jul 21
  • SUP 4: 121.82 Low Jul 15 and 16

The cross remains strong despite the moderation Thursday. Prices pulled slightly lower after printing a new multi-year high of 125.58 early Thursday. This extends the underlying uptrend with markets now looking to Fib resistance at 125.97 and 126.68. RSI measures have inched into overbought territory, suggesting we may see some consolidation before any further strength. To the downside, a close below 123.06 would signal a top and highlight the potential for a correction.

MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com