After breaking a long-term resistance from 2013, XAUUSD is consolidating lower after it found support around previous resistance. Currently, its trying to form a HH-HL to continue the bull. A break lower from previous low at 1190 will invalidate the trend.
After making new 2016's low at 114.21, USDJPY consolidate higher and formed a pennant, a break below 115 could be a sign for USDJPY continuing the trend. On the other side, a break above 115.60 could be a sign for more consolidation or back above the 116 resistance (previously a support).
The dragon has taken a beating in 2016, but looking back, it's still far from it worst. In 2008 and 1998, GBPJPY plunge 44% and 37%. There's similarity in RSI as well (highlighted in blue box) and currently, the price is below EMA 50 monthly. Conservatively, GBPJPY could see 160 level and it could see 150 level in this 2016.
In hourly chart, there's a possibility of bearish divergence.
If its breaking down the channel, it could possibly go to box area (1.3210-1.3175). The scenario is invalid if USDCAD breakout from upper channel.
This coming week will be the decisive moment for USOIL, whether it continue to go down or time for a rebound. The price is near at least 3 support, first the support area between 44-42.6, second the trend line formed from lowest point this year and third the fibo line 764. There's also a resistance trend line formed from the beginning of the bearish and supposedly...
On 4H TF, USDCHF seems to form a sequential LL-LH-LL-LH. After dropping to support level formed since May last monday, the pair capable to rebound until resistance level showed in the box. Now, the direction is either the pair break the resistance and move to 0.96 or the resistance level hold and the pair forming another LL.
TP 1: 0.9310
TP 2: 0.92
The pair is near its trendline support formed since 2001, I don't think it can get any lower before making some high.
So, I guess it will back to around .72 first and maybe trying to break the support and heading to .7
USDCHF is on rally before SNB canceled their currency pegging with Euro.
A recovery from .8300 to 0.9000 indicate the bull is still strong enough.
US interest hike would also support the bull trend.
2015 target is 1.1000
After a rebound near the support line formed from 2005, gold is trying to form a new bullish trend.
Adding a view beside my weekly view here
A break above 1320-1326 would be a signal for gold to move toward 1392.
A move below 1130 indicate gold still on a bearish trend.
Uncertainty in euro zone and interest rate hike would...