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Silver has reversed and has broken uptrend channel by breaking support implied by its lower bound. Strong resistance is given at 18.65 (17/04/2017 high) while the metal has broken support found at 16.58 (15/08/2017 high) before bouncing back. Expected to show further bearish move.

In the long-term, the trend is rater negative. Further downsides are very likely. Resistance is located at 25.11 (28/08/2013 high). Strong support can be found at 11.75 (20/04/2009).

Gold is ready to go lower. The precious metal has bounced back on hourly support given at 1267 (15/08/2017 low). Hourly resistance is located at 1357 (08/09/2016). Stronger support lies at 1204 (10/07/2017 high). Expected to show further bearish move.

In the long-term, the technical structure suggests that there is a growing upside momentum. A break of 1392 (17/03/2014) is necessary ton confirm it, A major support can be found at 1045 (05/02/2010 low).

AUD/USD is consolidating over the past weeks. Hourly resistance is given at 0.7883 (27/05/2017 high). The pair is approaching support at 0.7786 (18/07/2017 low). Expected to show continued consolidation.

In the long-term, the trend is turning positive. Key supports 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 continues to move higher despite ongoing consolidation. Strong support is located at a distance 1.2062 (08/09/2017 low). Hourly support lies at 1.2331 (26/09/2017 high). Resistance is given at 1.2532 (29/09/2017 high). Expected to show continued short-term bullish pressures.

In the longer term, the pair has broken longterm support that can be found at 1.2461 (16/03/2015 low). Strong resistance is given at 1.4690 (22/01/2016 high). The pair is likely to head further lower.

USD/CHF is trading higher within short-term uptrend channel. Yet, demand is has been increasing since September. Closest resistance is given at 0.9808 (30/05/2017 high). There are nonetheless decent downside risks. Strong support is given at 0.9421 (03/05/2017). Expected to show bullish pressures.

In the long-term, the pair is still trading in range since 2011 despite some turmoil when the SNB unpegged the CHF. Key support can be found 0.8986 (30/01/2015 low). The technical structure favours nonetheless a long term bullish bias since the unpeg in January 2015.

USD/JPY is trading mixed. Strong support is located at a distance at 111.12 (20/09/2017 low). The pair is still located into a medium-term bullish trend. Yet, downside risks are rising as markets may soon take some short-term profit.

We favor a long-term bearish bias. Support is now given at 99.02 (10/08/2013 low). A gradual rise towards the major resistance at 125.86 (05/06/2015 high) seems unlikely. Expected to decline further support at 93.79 (13/06/2013 low).

GBP/USD is pushing lower since the pair has topped 1.3657 (20/09/2017 high). The pair is going towards hourly support is given at 1.3155 (14/09/2017 low). Expected to show continued bearish pressures within downtrend channel.

The long-term technical pattern is reversing. The Brexit vote had paved the way for further decline. Long-term support can be found at 1.1841 (07/10/2017 low). Long-term resistance given around 1.35 is at stake and indicates a long-term reversal in the negative trend. Yet, it is very unlikely at the moment.

EUR/USD is way into a bearish trend. Hourly resistance can be found at 1.1833 (29/09/2017 high). Strong support is given at a distance at 1.1662 (17/08/2017 low). Expected to show continued short-term bearish pressures.

In the longer term, the momentum is now turning largely positive. We favour a continued bullish bias. Key resistance is holding at 1.2252 (25/12/2014 high) while strong support lies at 1.0341 (03/01/2017 low).

The CAC index has posted slight losses in the Wednesday session. Currently, the CAC is trading at 5,350.00, down 0.32% on the day. On the release front, services readings were positive. French Services PMI jumped to 57.0, just shy of the estimate of 57.0 points, and Eurozone Services PMI improved to 55.8, above the forecast of 55.6 points. However, Eurozone Retail Sales posted a second straight decline, coming in at -0.5%. This was well below the forecast of +0.3%. Later in the day, ECB head Mario Draghi will speak at an event in Frankfurt. On Thursday, the ECB releases the minutes of its September policy meeting.

The CAC continues to trade at high levels, as investors have given a thumbs-up to the improving French economy. The CAC looked strong in September, as the index jumped 4.1 percent. September PMI reports are pointing to expansion in the manufacturing and services sectors. French Final Manufacturing PMI accelerated for a fourth straight month, and the September reading of 56.1 was the highest level since April 2011. The Services PMI improved to 57.0, marking a 4-month high. The Bank of France has revised upwards its 2017 growth forecast to 1.7 percent, up from 1.6 percent in July and 1.4 percent in June. The OECD has also revised its growth forecast to 1.7 percent, up from 1.3 percent. However, the OECD cautioned that more work needs to be done, saying that France’s growth is contingent upon President Emmanuel Macron implementing a long-term plan to slash public spending, which is the highest in the 35-member OECD.

Investors don’t appear too concerned about the crisis in Catalonia, as European stock markets have been steady this week. The situation remains volatile, as the Spanish government and the Catalan regional government remain deadlocked over Sunday’s independent referendum. The violence between police and voters left close to 900 civilians injured, and tensions remains high. Catalan officials claim that 90 percent of the votes were if favor of independence, but the national government has declared the vote unconstitutional and illegal. On Wednesday, Catalonia declared a general strike and some 700,000 people demonstrated in Barcelona. Catalan Carles Puigdemont has not showed any intent to back down, warning that his government plans to act in a matter of days. The crisis is not expected to weigh on the euro or European stock markets, as the referendum is viewed as an issue local to Spain, and not to the eurozone in general. As well, the Spanish economy is in good shape, so a constitutional crisis is unlikely to affect the country’s economic growth. Still, Catalonia is heavily dependent on tourism, and an ongoing conflict could deter tourists and take a toll on the Spanish economy.

The GBP/USD pair has fallen to three weeks' lows. Taking into account how fast the American currency has been strengthening this Autumn, one can really expect the trend to continue in the future.

Over a short-period of time, the strong USD has easily sent the British Pound to the levels it reached in the middle of September. Investors increased their focus on the technical picture and paid little attention to the fundamental news, although it may offer something really impressive.

Yesterday, it became known that September was a pretty "flat" month for the British manufacturing. The HIS Markit statistics showed that the Manufacturing PMI decreased more than earlier. The indicator fell from 56.7 points in August to 55.9 points in September. It's still above the psychologically-crucial level, 50 points, which shows the difference between growth and decline, but may yet plummet pretty quickly.

The same report confirmed that the output was growing, but also a bit slower than before. The ascending tendency has been continuing for 14 months in a row, but in September the number of new orders was increasing moderately, and that's some kind of a warning sign. However, summarizing the above, one can say that British enterprises and factories are quite optimistic as 51% of them are expecting the British manufacturing to improve in the next 12 months.

The Brexit went on the back burner for a while. The negotiations between the United Kingdom and the European Union are in progress and at present moment the parties are discussing aspects of future legislative and taxation systems, and trade and economic cooperation after the UK exits the Union. There is no point in waiting for any quick news here. The process is going on according to "two steps forwards, one step backwards" principle.

The technical chart of the GBP/USD pair shows that the uptrend continues and the fact that bulls pushed the price above the resistance line only made them stronger. The short-term picture of the previous two weeks indicates the correction inside the current ascending channel. The main target of the descending correction is close to the support level at 1.2975. However, if one takes into account the fact that the uptrend may get stronger, the target of the correction may be close to the fractal level at 1.3148, where the price may reverse. In case the instrument reverses and starts forming a new rising impulse, the target will be at 1.40.