American Dollar Still Sleepy, Waiting for a Breakout
Santa is here, even after Christmas. Indices continue the movement to the upside. Many major indices are currently flirting with all-time-highs.
Your capital is at risk
Dollar Index continues trading inside of the pennant formation. Breakout should happen really soon.
Of course a very similar situation can be spotted on the EURUSD, where the price is slowly approaching the end of this sideways movement.
GBPUSD is enjoying the bounce from the 38,2% Fibo and the lower line of the flag formation.
Almost the same is happening on the NZDUSD but here buyers are more cautious and the bullish momentum is not as admirable as on the Cable.
CHFJPY is enjoying the upswing after the price was locked between Fibos for almost six weeks. Great example of what happens when the price eventually escapes from the sideways trend.
Silver is not bothered by the stronger USD and is aiming for the long-term dynamic resistance.
Gold is doing slightly worse. The shooting star on a daily chart can especially be a problem for buyers.
Oil broke a major horizontal and dynamic resistance. Sentiment with that is definitely bullish.
For a look at all of today’s economic events, check out our economic calendar.