Daily Analysis 2014-05-19
EURUSD is at 1.37, and it looks like the pair still has a way to go before it finds a new support. Despite the pin bar on Tuesday, the pair likely still needs something additional to push it up.
NZDUSD is currently at the major support level of 0.863. If this support is broken, we may see the pair fall as low as 0.855, or even lower.
USDJPY is at 101.43, and it may find support just below this area at 101.3. On the daily chart, we see that the pair left some tails at this area. Can it hold a third time?
CRUDE OIL continues to march up. It's currently trading at 101.65. This week, we could see it reach as high as 102, and if the trend gets stronger, 103 may also be reached.
GOLD is trading in a very thin channel. This consolidation is likely to break in the near future, and these levels are more support and resistance.
S&P 500 continues to go up and up. It is currently trading at 1877, and after it finds a new support, will likely try to look for a new high during this week or the next.
No major economic news today.