The violent bursts of volatility which rattled the financial markets in the week may have worn off with stock markets displaying some exhaustion as risk aversion takes center stage. An appreciating Dollar has punished commodities with WTI and Gold sinking to daily lows. While we remain fundamentally bullish on Gold, WTI was set to decline as concerns over the unrelenting oversupply in the markets were elevated.
– The GBPUSD is bearish and the breakdown below 1.42 may encourage another selloff towards 1.40.
– The EURJPY is bearish on the daily timeframe and a breakdown below 125.00 should open a path towards 123.00.
– Gold is bullish on the daily timeframe and may incline towards $1250
The violent bursts of volatility which rattled the financial markets in the week may have worn off with stock markets displaying some exhaustion as risk aversion takes center stage. An appreciating Dollar has punished commodities with WTI and Gold sinking to daily lows. While we remain fundamentally bullish on Gold, WTI was set to decline as concerns over the unrelenting oversupply in the markets were elevated.
– The GBPUSD is bearish and the breakdown below 1.42 may encourage another selloff towards 1.40.
– The EURJPY is bearish on the daily timeframe and a breakdown below 125.00 should open a path towards 123.00.
– Gold is bullish on the daily timeframe and may incline towards $1250
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