Your Daily Update on Market Trends

Market Analysis

GOLD

Our reading on Gold is little changed from yesterday. The price is consolidating at an all-time high, a sign that the market is comfortable holding the precious metal at these elevated levels. The political instability in the U.S. is reinforcing Gold's safe-haven appeal.

SILVER

Silver prices are unchanged. We will maintain our current readings for this market and wait for a clear breakout from the consolidation range.

DXY

The Dollar did not make a significant move yesterday. However, the political disturbances are raising questions about the credibility of the U.S. economy, which could weigh heavily on the currency. We are waiting to see how the situation progresses.

GBPUSD

The Pound is still within its consolidation range and is little changed from yesterday. We will wait for a clear directional move before making a call.

AUDUSD

The Aussie dollar is maintaining its bullish momentum and continues to rise steadily. We expect further buying to continue in the coming days.

NZDUSD

The Kiwi is little changed but does maintain its bullish price structure. With that in mind, we will continue to look for more buying opportunities.

EURUSD

The Euro is still consolidated. We will wait to see how the market progresses in the coming days. Until a clear break is found, we will stay away from this range.

USDJPY

The Yen remains stuck in its larger consolidation range. With that in mind, we will continue to wait for a clear breakout before confirming a direction.

USDCHF

The USD/CHF pair is progressing as expected, rallying toward the EMA200, which should act as significant resistance. We will maintain our bearish sentiment and watch for signs of this rally failing, which could present a selling opportunity.

USDCAD

The USD/CAD pair continues to trade bullishly and has now shifted its overall price momentum to a buying bias. With that in mind, we expect to see further buying in the coming days.