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The British Pound has been trading in a dominant ascending channel against the Australian Dollar. The exchange rate began making a corrective movement south in a newly formed descending pattern on April 26 and has since remained bearish move.

The currency pair has moved closer to the lower boundary of the descending channel and could be set for a breakout during the following trading sessions.

If and when the aforementioned breakout occurs, the GBP/AUD currency exchange rate could encounter a strong support cluster set by the combination of the weekly and the monthly PPs near the 1.78 area.

The Canadian Dollar weakened against the Greenback, following Canadian Employment Change data release on Friday. The USD/CAD currency pair gained 20 pips, or 0.16%, and later on was seen to continue to go upwards, thus weakening the Canadian Dollar even more.

The Statistics Canada released two datasets simultaneously, from which Employment Change data came out lower-than-expected of negative 1.1K for the month of April. However, Unemployment Rate came in line with forecast of 5.8%.

"The April employment report is not as bad as it looks, soft headline number doesn't mean Canada's labour market is struggling," said Krishen Rangasamy, analyst at the National Bank of Canada.

The Aussie dollar maintains bullish bias and retests key barrier at 0.7565 (Fibo 38.2% of 0.7812/0.7412 bear-leg) reinforced by falling 20SMA, where recovery leg from 0.7412 low faces strong headwinds.

Strong bullish signal has been generated last week’s completion of reversal pattern, with recovery helped by weaker greenback, but mixed daily techs show unclear near-term picture.

Repeated failure at 0.7565 would be initial signal of recovery stall which requires confirmation on return and close below 10SMA (0.7509).

Bullish scenario requires close above Fibo barrier / 20SMA to signal extension of recovery leg from 0.7412 towards next target at 0.7612 (daily Kijun-sen / 50% of 0.7812/0.7412 fall.

Res: 0.7565, 0.7584, 0.7612, 0.7624
Sup: 0.7539, 0.7509, 0.7472, 0.7450

Bitcoin rise started in mid-April pauses, the pair is currently decreasing after reaching 9795 (04/05/2018 high), heading along the 8285 range. Bitcoin bearish pattern started in March 2018 strengthens. The pair is contained between hourly support and resistance given at 6306 (13/11/2017 low) and 10232 (01/02/2018 high). The technical structure suggests further shortterm decrease.

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 slightly below its 200 DMA (8500 range).

Crude oil is declining following recent rise at 71.89, heading along the 70.30 range. Crude Oil is currently trading at December 2014 levels. The bullish pattern started in mid-February 2018 is maintained. Hourly support and resistance are given at 65.56 (17/04/2018 low) and 73.56 (28/11/2014 high). The technical structure suggests short-term downward moves.

In the long-term, crude oil has recovered after its sharp decline last year. However, we consider that further weakness is very likely. For the time being, the pair lies in an upside trend since June 2017. Support lies at 42.20 (16/11/2016) while resistance is located at 77.83 (20/11/2014). Crude oil is trading largely above its 200 DMA.

Silver is increasing, bouncing off from 16.06 (01/05/2018 low) and heading along the 16.75 range. Hourly support and resistance are given at 16.05 (19/12/2017 low) and 16.87 (06/03/2018 high). The technical structure suggests shortterm 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 increasing, trading above 1320 and heading along the 1323 range. Hourly support and resistance are given at 1300 (29/12/2017 low) and 1329 (08/03/2018 high). The technical structure suggests short-term upward 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).

EUR/CHF is strengthening, bouncing off from 1.1868 (09/05/2018 low) and heading along the 1.1965 range. Hourly support and resistance are given at 1.1842 (11/04/2018 low) and 1.2006 (20/04/2018 high). The short-term technical structure suggests short-term upward moves.

In the longer term, the technical structure has reversed. Strong resistance at 1.20 (level before the unpeg) is now at reach. 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 and resistance can be found at 1.0624 (24/06/2016 low) and 1.2097 (18/12/2014 high).

EUR/GBP is increasing following recent bounce from 0.8729 (10/05/2018 low), trading along 0.8820 and heading along the 0.8830 range. EUR/GBP bearish pattern started in March is weakening. Hourly support and resistance are given at 0.8668 (22/03/2018 low) and 0.8898 (07/02/2018 high). The technical structure suggests short-term upward moves.

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

AUD/USD is bouncing off from 0.7412 (09/05/2018 low), heading along the 0.7565 range. Hourly support and resistance remain at 0.7412 (09/05/2018 low) and 0.7879 (28/02/2018 high). The technical structure suggests shortterm increase.

In the long-term, the upward trend slows down 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.