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Crude oil bounce from 65.56 stops, decreasing and approaching the 68.10 range. Crude Oil is trading at its December 2014 high. The bullish pattern started in November 2017 is maintained. Hourly support at 63.20 (10/04/2018 low) is distanced. 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 rising pattern started in mid April weakens, falling from 17.36 high and heading along the 17.05 range. Hourly support and resistance are given at 16.65 (15/02/2018 low) and 17.43 (15/01/2018 high). The short-term technical structure suggests short-term decrease.

In the long-term, the trend remains negative/ sideways. Further downside is very likely. The pair is trading above 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 decreasing further, trading below 1340 and heading along the 1330 range. Hourly support and resistance are given at 1318 (14/02/2018 low) and 1366 (25/01/2018 high). The technical structure suggests further short-term downward 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 bullish momentum pauses below the 1.20, trading at 1.1975. Strong resistance at 1.20 remains. Hourly support given at 1.1842 (11/04/2018 low) is distanced. The short-term technical structure suggests further short-term sideways trading 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 decreasing after reaching 0.8792 high, trading at 0.8753 and heading along the 0.8743 range. EUR/GBP bearish pattern started in March is somewhat weakened. Hourly support and resistance are given at 0.8621 (17/04/2018 low) and 0.8816 (29/01/2018 high). The technical structure suggests short-term decrease.

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 decrease from 0.7813 is pausing, starting a bearish consolidation and heading along the 0.7665 range. The pair is trading at December low. Hourly support and resistance are given at 0.7638 (15/12/2017 low) and 0.7979 (15/01/2018 high). The technical structure suggests further short-term sideways trading moves.

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.

USD/CAD recovery phase from 1.2528 low pauses, starting a bearish consolidation at the 1.2755 range. Hourly support and resistance at 1.2504 (06/02/2018 low) and 1.2755 (22/02/2018 high) are maintained. The short-term technical structure suggests short-term sideways trading moves.

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 pair is trading above its 200 DMA.

USD/CHF rise continues, approaching hourly resistance at 0.9770 (12/01/2018 high). The bullish pattern started from 0.9188 (16/02/2018 low) continues. The pair is contained between hourly support and resistance given at 0.9296 (05/02/2018 low) and 0.9770 (12/01/2018 high). The technical structure suggests short-term upward trading moves.

In the long-term, the pair is still trading in range since 2011 despite some turmoil when the SNB unpegged the CHF. Key support lies 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

USD/JPY bounce from 106.90 low continues, approaching hourly resistance at 107.90 (14/02/2018 high). The bearish pattern started in January 2018 is weakening. Hourly support at 104.30 (08/11/2016 low) is distanced. The shortterm technical structure suggests continued short-term upward moves.

We favor a long-term bearish bias. Support remains at 101.20 (09/11/2016 low). A gradual rise toward the major resistance at 125.86 (05/06/2015 high) seems unlikely. Expected to decline further support at 101.20 (09/11/2016 low). The pair trades below its 200 DMA.

San Francisco Fed President John Williams told Spanish newspaper El Pais that it's too soon to tell if there will be a trade war. He pointed out "the reality is that it is not so serious as some headlines suggest". However, Williams also warned that "if the conflict increases there will be less growth, more inflation and lower quality of life all over the world."

Regarding central bank communications on stimulus exit, Williams said "it should be repeated until people have had enough of hearing the message."