Trend Theme：GBP/USD: On the way to 1.3970-80 key hurdle.
Trend Review：GBP/USD strays mildly bid inside a bullish chart formation. Upper line of the short-term rising channel, two-week-old horizontal area guard short-term upside. Confluence of 200-SMA, ascending trend line from April 12 becomes a tough nut to crack for sellers. Strong RSI, ability to stay past key SMA keep buyers hopeful.
|PP||Resistance*||1.3967 *||1.3994 **||1.4012 ***|
|1.3950||Support*||1.3923 *||1.3905 **||1.3879 ***|
Trend Theme：USD/JPY: Bulls attack 109.00 even as sluggish markets confront downbeat sentiment.
Trend Review：USD/JPY refreshes intraday top, stays near 13-day high flashed the previous day. Japanese traders struggle to justify mixed risk catalysts and yen’s safe-haven nature on their return from Thursday’s holiday. Japan’s Unemployment Rate, Tokyo CPI dropped, Industrial Production recovered. Virus, vaccine updates, China PMI can entertain Asian traders amid a light calendar.
|PP||Resistance*||109.29 *||109.65 **||110.08 ***|
|108.86||Support*||108.50 *||108.08 **||107.72 ***|
Trend Theme：WTI bulls burst back into life to six-week highs.
Trend Review：Despite the prior rallies this week which has seen the price take on bearish commitments at prior resistance, the bulls have battled on from a shallow 23.6% Fibonacci retracement.
|PP||Resistance*||65.61 *||66.40 **||67.41 ***|
|64.60||Support*||63.80 *||62.80 **||62.00 ***|
Trend Theme：Gold struggles below $1,800 amid risk-off mood.
Trend Review：Gold eases from intraday top but lacks bearish momentum. Covid woes, reflation fears favor the US dollar’s corrective pullback. S&P 500 Futures print mild losses despite Wall Street’s positive performance. China PMI, risk news will be crucial to follow.
|PP||Resistance*||1789.27 *||1806.57 **||1823.12 ***|
|1772.72||Support*||1755.42 *||1738.87 **||1721.57 ***|