Energies
In today’s early trading, The US dollar recovered from yesterday’s losses against major currencies. USDJPY broke the 143.00 level and is expected to rise to 143.50 if the hourly candle closes above the 143.00 level.
Short term moving averages MA(5) and MA(10) crossed above the mid-term moving average MA(30), signaling short-term bullish momentum.
On the MACD, bullish crossover just happened below the zero line with green histogram bars increasing.
A possible bullish correction or short-term rally is expected on the pair this week.
USDJPY 1H Chart
| Resistance | 143.60 | 144.00 | 144.41 |
| Support | 142.64 | 142.12 | 141.90 |
Oil prices are currently consolidating with a slight bearish bias. No strong trend confirmation yet on West Texas Intermediate, but if price breaks below $61.00 again, we could revisit the $60.40 zone.
Monitor $64.60 level closely. Closure of 1H candle below this level opens the door for more bearish movement towards $60 level.
Breaking above $61.40, on the other hand, hints at possible uptick towards $61.80
West Texas Intermediate 1H Chart (USOUSD)
| Resistance | $61.80 | $62.31 | $63.12 |
| Support | $60.60 | $60.41 | $59.80 |
As the US dollar strengthens, gold is observed to be under pressure today as it broke the uptrend line on the hourly chart. Short term moving averages are starting to angle downward below the mid-term moving average MA(30)
Bearish crossover is seen on the MACD near the zero line, supporting the bearish bias.
Gold shows signs of bearish momentum after reaching the recent high. The MACD and moving averages indicate potential further downside unless support around 3310 holds and keeps prices above.
Gold (XAUUSD) 1H Chart
| Resistance | $3,346 | $3,356 | $3,366 |
| Support | $3,315 | $3,300 | $3,279 |
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