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Daily analytical report (17/05/17)

  • When the macro calendar is not very busy, the White House and Donald Trump keep traders entertained. New, interesting things come out to the press every day and they're very influential on the markets. We have a full risk off sentiment right now. USDJPY is going down, precious metals are going up, stocks have fallen and USD is losing ground.
  • Gold, with the latest upswing, managed to break two important horizontal resistances (1235 and 1241 USD/oz) and broke the mid-term down trendline. Now, we're fighting on the 38,2% Fibonacci, which has the potential to cause some trouble.
  • Silver is also doing well. We're now at six bullish days in a row and the price has managed to come back above the up trendline. What is more, today, we broke the horizontal resistance at 16.85, which is optimistic. Obviously, it's a bit too early to go long, but the first steps towards that have been made.
  • GBPUSD is about to make new long-term highs. The price managed to create a corrections equality pattern (~145 pips) and bounced off the horizontal support on the 1.285. Sentiment is positive and the buy signal is still on.

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