EURUSD Gains But Watch The Hidden Bearish Divergence 
The euro currency snapped strongly above the 1.2050 level, but price action formed a lower high.
The hidden bearish divergence on the chart could, however, see prices pushing lower.
To the downside, the euro currency is forecast to push down lower to the 1.2050 level of support.
If price breaks down below this level, then we expect further downside.
The previous low near 1.1953 will however need to crash lower to continue the downtrend.
But the support level near 1.2050 level will act as the line in the sand.
GBPUSD Rises To A New Three-And-Half Year High
The British pound sterling continues to push higher with price action rising to a new three and a half year high. The gains come as the GBPUSD moves closer to the 1.3777 level.
Given that this level has served as support in the past, we could expect GBPUSD to form resistance at this level.
If price reverses near this level, then we might expect price action to slip back to the 1.3500 level of support. But in the near term, GBPUSD will need to break down below the 1.3758 level of support to confirm the downside.
In the event that the currency pair rises above 1.3777 level, then we expect a further upside that could see the next level near 1.4368.
WTI Crude Oil Breaks From A 6-Day Winning Streak
WTI crude oil prices are pushing lower following a six-day winning streak. Price action rose to a 13-month high prior to the pullback.
But for the moment, the declines are likely supported near the 57.35 level of support. If price action loses this support, then we expect to see further declines.
The next main support level near 53.77 will be the level to watch. For the moment, watch how the daily price action will unfold near the current highs.
We would need to see a bearish follow through to the downside to confirm the correction.
In the event that the support level near 57.35 holds, we could expect to see further gains.
Price action will need to break out above the current highs of 58.59 in order to confirm further continuation to the upside.
Gold Prices Rise For Three-Consecutive Days
The precious metal is posting strong gains, rising for three consecutive days. Despite the gains, prices are below the 1850 level of resistance.
In the near term, we might expect prices to move sideways within the 1850 and 1817.80 level. If price breaks out above 1850 level, we could expect to see further gains.
The next key level will be near the 1874.00 resistance level. To the downside, the support level near 1817.80 will likely keep prices supported from any further declines.
Meanwhile, we continue to see the hidden bearish divergence forming on the 4-hour chart.
Therefore, it is quite likely that the 1817.80 level could be tested in the near term.
