Technical analysis

Daily trends: EURUSD, GBPUSD, Gold, Brent

EURUSD EURUSD is trading near 1.1420, losing 0.2% from the beginning of the day after an impressive growth on Friday from 1.1370 to 1.1440. The growth on Friday was largely associated with upward correction after a strong decline. According to technical analysis, despite the increase in EURUSD on Thursday and Friday, the bearish trend remains in effect while the pair is trading below 1.1500 level.

GBPUSD The British currency is trading near 1.2740, adding about 0.6% to the lows at 1.2660. The current stabilization of the rate, accompanied by strong macroeconomic releases from last week can allow the GBPUSD pair to get out of the oversold area by RSI, that would be a strong bullish signal.

Gold Gold is actively recovering after a fall in the middle of last week. Currently, Gold is near $1187 after the fall to 1160, the lows from January 2017.

Brent Brent Crude Oil rose to $72 following the growing demand for risks at the Asian bourses. Technically, oil bounces off the bottom of the downstream channel, so there is don’t excluded an unexpected return to decline. Among the data it is worth to mention that drilling activity in the USA keeps its pace previous week. The number of operating rigs has not changed over the last week, having remained at the level of 1057 items.

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