The Brent appear in decline at the moment , in fact after the peak reached in May went down by 10% -The RSI and CCI oscillators showing as the decline phase could to continue In my opinion the oil could reach the S2 level ( Woodie pivot points) for Oct
It could to be a bounce on the XAU/USD ( gold) that this year is down by 15% , a plunge that overheated many oscillators ( look at the RSI and CCI for example) If it will be happen , the gold could breach easily the resistances provided by Fibonacci , at least up to reach the 50% level
The XAG/USD (silver) is down by 70% from its historic peak reached in March 2011 , nevertheless i remain optimist on this asset because at the moment appear well supported by the bullish trend line ,as you can see on this chart of long period . The first positive signals come by the Stochastic oscillator that become positive after three days of rise , at this point the silver should continue on this way , at least up to reach the Fibonacci resistance ( i mean 50% level) .
The ZARJPY went down by 20% from Feb , this deep correction caused an oversold situation , look at the RSI and CCI oscillators , that in the medium period could cause a bounce . In this case the pair could increase up to reach the static resistance placed to 8.5 ; the ideal target for Oct , i think
The USDZAR increased by 30% form the minimum touched in Feb (look at the big green candle present on this chart ) , a bounce that created an overbought situation as show the RSI oscillator At this point the pair could correct its course , going down toward the support provided by the Fibonacci Expansion (61,8%)
it' s hard make a precise foresee for the USDTRY. In fact this pair went up by 80 % in the last 8 months and the ATR oscillator ( that measure the volatility) have just reach its maximum . Despite it the pair could recorded a correction in the coming period , in fact it is already down by 15% from it last peak and if will continue on this pace could to be reach the resistance placed to 4,75 for Oct .
The USDSGD last recovery leaded the pair to reach the key resistance provided by the Fibonacci retracement ( 50%) , an event that caused a correction , turning the Stochastic oscillator in a bearish mode So , considering that the main trend remained bearish ( look a t the trend line ) i foresee a restart of it that will lead the pair towar the support placed to 1.33
The USDSEK bounced by 18% from the minimum touched in Jan , an impressive run that unavoidably caused an overbought situation , as you can see on the RSI and CCI oscillators . In add to it the pair have just reach a key static resistance . To this point i foresee a correction in the coming day , that could lead the pair down to the static support placed to 8,74. A level that could to be reach for Oct
The USDRUB corrective phase interrupted when the pair touched the static support placed to 56 an event that caused a strong bounce (+25%) that leaded the pair to another key level , the static resistance placed to 68 an event that caused an overbought situation as you can see on the RSI oscillator At this point i use a tool based on Bollinger and Fibonacci ( BBANDSFIB) for find some interesting levels for the future . As you can see on this chart the USDRUB at the moment is near to the upper ban…
The USDPLN increased by 15% from the minimum touched in February , a rally that could to be very close at the end . If you take a look at the bollinger bands you can notice a widening between bands ( a signal of high volatility ) while the rainbow oscillator turn in negative In case of correction the pair should go down to the S2 level ( provided by the Woodie pivot points) for October , it mean a correction by 6% from the current level .
The USDNOK ,after a bounce by 10% from the minimum touched in Feb , could suffer a correction. In fact it is at the level of a static resistance and the oscillators ( RSI and Stochastic ) are in overbought at the moment . In this case the pair could breach easily the first support provided by the Fibonacci retracement and t reach he the 50% level for Oct.
The USDMXN is still below the moving average of long period , despite the latest bounce that caused an overbought situation and a bearish divergence on the CCI oscillatorSuch situation should cause a further decline in the coming period , with the pair that could reach easily the static support placed to 17,6
The USDJPY appear in a clear bearish trend ( look at the trend line ) with the RSI and CCI oscillators that confirming this trend also in the short and medium period . A further decline appear very probable at the moment , with the 61.8% support ( Fibonacci expansion ) that could to provide some relief , one time reached of course .
The USDHUF increased by 15 % in the 2018, a run that caused an overbought situation and a bearish divergence on the CCI oscillator . Such situation could cause a correction in the coming days , in this case the pair should to go down to S1 level for October
The USD DKK is still in bearish channel , with the last bounce that lead the pair to reach the dynamic resistance provided by the channel upper edge . At the same time we have also an overbought situation , as show the RSI oscillator These factors could cause a correction in the coming days , in this case the first static support is placed to 6.3, and could to be reach in Oct.
The USDCHF , after a bounce by 9% , is again at the level of an important static resistance that in the recent past caused a deep correction In my opinion it will happen again ( and very soon) with the pair that in the coming days should to breach the supports provided by Woodie pivot point down to reach the S3 level
The USDCAD , despite the last recovery , remain in a bearish trend that , cause the overbought situation present on the CCI oscillator , could to restart very soon If will happen the Fibonacci expansion could to be a valid tool for find target price , in this case the 61.8% level appear to be the ideal for October
The SGDJPY is in bearish trend at the moment , it is below th e moving average of long period and the Aroon Down line is above the Up line in Aroon oscillator The Fibonacci expansion should to provide a valid support level for the coming period , in my idea the pair could to stop or slowdown its fall around the 100% level , a goal that should to be reached for Oct
After two failed attempt to breach the static resistance placed to 0.75 the NZDUSD exhausted its recovery phase , now is again below the moving average of long period In my opinion it should continue on this pace , as confirm the Aroon oscillator . In this case an interesting support could to come by the Fibonacci arcs
The NZDJPY failed to breach the static resistance placed to 83 in the 2017 , an event that caused the restart of decline , as you can see on the red bearish channel present on this chart If the pair will continue on this way , as i think ,we could to see an acceleration in the coming period . It could reach the dynamic support (38,2) provided by the Fibonacci fan line