Gafnn.com Daily Analysis

 The weekly chart shows how the bullishness of the index has been limited when it approached the resistance of the upside channel that carried the movements over medium term basis.

The USDJPY pair declined yesterday sharply to break the critical support levels mainly the 79.50 level, and now settled below it, and this what brings the price back to the bearish scenario.

The major long term bullish direction has been stopped at the historical high of 0.8841 where the pair reversed down achieving the above seen correction. 

Gold price approached near the main waited target around the critical support level of 1522.50, where trading now bounced to settle near 1550.00 that was retested yesterday.

By examining the daily chart, we will find that the pair has breached the resistance line of the bearish trend which was organized by the above seen descending channel.

Crude oil resumed the down trend surpassing important support barriers, and 93.00 was the last one to pass, as the price is approaching the main waited target at 91.45 followed by the full target of the previously confirmed double top pattern which located at 90.60

The index has been capable of breaching through the support of the short term bullish channel suggesting that a correction process for the last upside wave from 10328 to 13828 has started.

Studying the provided chart below, the USDCAD pair offers some technical factors that causes mixed fluctuations and uncertain intraday trend.

The daily chart shows that the index has found a pivotal support around 6400.00 where it started an upside wave after being provided by another support from the lower line of the short term ascending channel and also from the retest level of the previous broken neckline of the double bottom structure.

The GBPUSD pair was able to break the critical support level of 1.6080, which represents the neckline of a Head & Shoulders patter.