EURJPY

EURJPY has been in an aggressive downtrend since rejecting the top of the daily structure. At the moment there is a bearish continuation pattern developing which indicates more downside momentum. Traders are looking for more sell opportunities and ride the trend down to the previous daily support / low.

USOIL: (update)

USOIL has rejected the bottom of the daily structure twice and is now aggressively pushing up. Internally a descending structure has been broken to the upside and this shows signs of bullish strength coming. Traders are waiting for a bullish continuation pattern to further confirm more upside momentum.

XAGUSD

Silver has dropped due to the news that the Fed chair J. Powell has been renominated for the same position however structurally the market is still bullish. Traders are keeping a close eye on the previous low for confirmation of a possible corrective structure which will indicate more bullish momentum. An aggressive bounce and correction from that level will confirm the structure.