The overall trend for EURJPY seems bullish. Price seems to have broken previous structure to the upside and is making a possible pullback to the support zone which has a confluence with the fibo retracement golden levels. We could also see that price is above the 50 EMA which signifies a bullish direction. The RSI and MACD are above the centerline which adds to confirm that price is bullish.
Oil prices have fallen over two per cent on both major benchmarks, as Covid-19 cases soar across major economies such as US, China, France and the UK.
Brent Crude has dropped 2.2 per cent to $77.78 per barrel, while WTI Crude has declined even further by 2.31 per cent to $75.21.
Covid-19 cases have reached new pandemic highs across the globe, with infections driven by the highly transmissible Omicron variant.
From the chart overview of UKOIL we could see that the overall trend is bullish. Price has made a pullback to the support zone between 77.86 and 76.64 after breaking previous structure. We could see that price is retesting the 50EMA which has a confluence with the FIBO retracement golden levels. The RSI and MACD are above the centerline which adds to the bullish direction of price.
After a disappointment in 2021, gold (XAU/USD) kick-starts 2022 on a firmer foot around $1,830 during Monday’s Asian session. In doing so, the yellow metal cheers market’s risk-on mood amid a light calendar and off in multiple markets ahead of the key weekly events.
From the overview of price of GOLD we could see clearly that price is in an uptrend after breaking previous structure and a possible reversal to the support zone between 1816.61 and 1806.65 will see price push higher. We could see that price is above the 50EMA which signifies an uptrend and we could also see a confluence between the FIBO golden retracement levels and the 50EMA. The RSI and MACD are above the centerline which signifies a continuous trend of price to the upside.