Chart of the Day

XAGUSD is breaking below 21.60   Silver broke below 21.60 and extended downside. This break is confirming the reversal lower and is invalidating the upside continuation completely, what is more, it is a long-term consolidation wedge break and the next target is set to test the strong downside resistance of […]

Copper is breaking below 3.700   Copper is breaking below the strong resistance of 3.7000 and is extending lower. This break is confirming the reversal lower and is invalidating the upside continuation completely. With this break, copper is on the way to testing the most significant downside resistance at 3.200

XAUUSD is breaking below 1820    XAUUSD is in the process of the confirmation of a breakout below the strong resistance again. This break is confirming the reversal lower and is invalidating the upside continuation completely. We are now at the beginning of the most impulsive third wave lower. Note:

NZDUSD is breaking below the 0.6250    NZDUSD is breaking below the strong resistance again. This break is confirming the channel breakout and is leading to a downside extension to 0.5800. If happens it will be the first break below 0.6000 after two years. Note: look for the short trade

GBPUSD is retesting the broken downside resistance    GBPUSD is retesting 1.2300 which is now support for the downside continuation. A rejection here could lead to a downside strong continuation and an extension lower to 1.1600. The bounce from 1.2000 is weak and is losing the steam. Note: look for