Top Forex Brokers – Forex Weekly news and analysis For November 11 – 17, 2024
US500 navigates within a rising wedge and faces its upper border at 5970. The RSI shows overbought conditions.
•If the price breaks above the 5970 resistance, it will further grow to 0.6080 and 261.8 Fibonacci;
•A rebound from the trend line will send US500 to 5830 and 161.8 Fibonacci.
XAGUSD forms a falling wedge and retests the 31.70 resistance, aligned with the 38.2 Fibonacci. The 50-MA crosses the 100-MA down, giving a bearish sentiment.
•A break above 38.2 Fibonacci will continue the rise to 34.50;
•A rebound from the resistance will take XAGUSD back to 29.60.
XBRUSD is following the trend line and tests the 74.50 support. The 50-MA crosses the 100-MA up, potentially continuing the uptrend.
•A rebound from the trend line will push the price up to 75.70;
•If the price breaks below the 74.50 support, it will decline to 72.60 or even 70.50.
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