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Silver reverses pattern, heading toward 16.75 The short-term technical structure remains however negative. Silver trades between hourly resistance at 17.07 (09/11/2017 high) and support at 16.03 (05/12/2017 low). The technical structure suggests further short-term increase.

In the long-term, the trend remains negative/ sideways. Further downside is very likely. The pair is trading below its 200 DMA. Resistance is located at 21.58 (10/07/2014 high). Strong support can be found at 11.75 (20/04/2009).

Gold is recovering after its recent strong sell-off. Resistance is located at 1337 (12/09/2017) while further resistance remains at 1358 (08/09/2017). Supports are given at 1306 (04/01/2018 low) and 1290 (16/10/2017). The technical structure suggests further upside moves.

In the long-term, the technical structure suggests that there is a growing upside momentum. A break of 1'392 (17/03/2014) is required to confirm it. A major support can be found at 1'045 (05/02/2010 low).

AUD/USD bounced back at 0.7759 (09/02/2018 low) and continues its ascent, heading toward resistance at 0.7884 (19/10/2017 high). Hourly support remains at 0.7638 (15/12/2017 low). The technical structure suggests further short-term increase.

In the long-term, the upward trend resumes after failing to reach key resistance at 0.8164 (14/05/2015 low). Key support stands at 0.6009 (31/10/2008 low). A break of the key resistance at 0.8164 (14/05/2015 high) is needed to invalidate our long-term bearish view.

pair is likely to head lower. The pairs is trading below 200 DMA.

USD/CAD trades at the 1.2570 range, slightly above 1.2550. The pair lies between hourly resistance at 1.2748 (24/11/2017 high) and support given at 1.2480 (20/10/2017 low). The technical structure indicates that further shortterm side trading is expected.

In the longer term, the pair is trading between resistance point at 1.3805 (05/05/2017 high) and support at 1.2128 (18/06/2015 low). Strong resistance is given at 1.4690 (22/01/2016 high). The pair is likely to head lower. The pairs is trading below 200 DMA.

USD/CHF is weakening following yesterday's sideways trading. The declining trend line remains intact, heading towards resistance at 0.9257 (01/02/2018 low). Hourly resistance stands at 0.9559 (24/01/2018 high) while further resistance remains at 0.9668 (17/01/2018 high).

In the long-term, the pair is still trading in range since 2011 despite some turmoil when the SNB unpegged the CHF. Support at 0.9259 (24/08/2015 low) is attainable. Key support remains at 0.9072 (07/05/2015 low) while resistance at 1.0344 (15/12/2016 high) is distanced. The technical structure favours a long term bullish bias since the unpeg in January 2015.

Bitcoin is now retracing above 8200. Strong support and resistance stand at 5605 (13/11/2017 low) and 12130 (18/01/2018 high). The short-term technical structure suggests further upside moves.

In the long-term, the digital currency has had an exponential growth but also presented important downturns. There is decent likelihood that the currency could stabilize between 7'000 - 12'000 in 2018. Bitcoin is trading above its 200 DMA (6'500 range).

EUR/CHF continues its decline heading toward 1.15. Hourly resistance is found at 1.15850 (19/10/2017 high) while strong resistance at 1.1833 (15/01/2018 high) remains. Hourly supports are given at 1.14269 (04/10/2017 low) and 1.1388 (02/10 2017 low).

In the longer term, the technical structure has reversed. Strong resistance is given at 1.20 (level before the unpeg). Yet, the ECB's slowing QE program is likely to cause buying pressures on the euro, which should weigh in favour of the EUR/CHF. Support can be found at 1.0234 (20/04/2015 low).

EUR/GBP is trading higher and approaches resistance at 0.8929 (12/01/2018 high). Hourly support remains at 0.8687 (25/01/2018). The technical structure suggests further short-term upside move.

In the long-term, the pair has largely recovered from 2015 lows. The technical structure suggests further upside pressure. The pair is trading above the range of its 200 DMA. Strong resistance can be found at 0.9500 (psychological level) while support remains at 0.8304 (05/12/2016 low).

The Australian dollar extends bounce from 0.7758 low (09 Feb) where steep descend from 0.8135 faced strong headwinds from supports provided by 200SMA and rising daily cloud. Recovery extends into third day but shows signs of losing traction ahead of strong barriers at 0.7892 (falling 10SMA) and 0.7902 (Fibo 38.2% of 0.8135/0.7758 fall). Fundamentals are supportive for AUD, following release of stronger than expected Australian business confidence (12 in Jan vs 10 f/c and 11 previous month). On the other side, techs are mixed, slow stochastic heads north on daily chart, RSI turned sideways and holding under neutrality zone, while bearish momentum is building. Bulls need sustained break above pivotal 0.7890/0.7910 resistance zone to generate fresh bullish signal for recovery extension towards 0.7963 (20SMA) and psychological 0.80 barrier (also near Fibo 61.8% of 0.8135/0.7758 descend. Conversely, the downside is expected to remain vulnerable while the price holds below plethora of resistances between 0.7890 and 0.7910. Rising 55SMA marks initial pivotal support at 0.7802, loss of which would re-expose 200SMA.

Res: 0.7892, 0.7902, 0.7910, 0.7935
Sup: 0.7847, 0.7802, 0.7771, 0.7754

WTI crude oil futures are continuing the bearish movement following the strong pullback from the 60.80 resistance level during Monday’s session. Prices have been touching the 61.8% Fibonacci retracement level at 59.30 of the up-leg from 54.80 to 66.60 over the last hours, finding strong support obstacle. The bearish picture in the short-term is supported by the RSI indicator.

In the 4-hour chart, the aforementioned indicator is moving slightly lower in the negative territory near the 30 level and is approaching the oversold zone. In addition, the 20 and 40 simple moving averages are moving lower, suggesting further downside pressure.

Should prices extend their losses, immediate support could come at 58.50, a level that it tested several times in the past. In case of a fall below that barrier, the oil could hit the 7-month low of 58.00.

On the flip side, if prices jump above the 61.8% Fibonacci mark, the 50.0% Fibonacci retracement at 60.71 could act as a barrier before being able to re-challenge the 60.80 resistance barrier.