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Strategy analysis of Forex, gold and crude oil on May 17, 2024

JRFX Forex player

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Gold

Technically, gold is currently in a consolidation phase, trading within the 2370-2400 range.

The pivot point is 2386. If the price is below this point, it may fall to 2365.00, with a further possible decline to 2354.00. If the price is above this point, it may rally to 2395.00, with a potential upside to 2410.00.

The RSI technical indicator is below the 50% neutral level, indicating a bearish sentiment in the market.

Foreign Exchange

EUR/USD:
The pivot point is 1.0880. If the price is below this point, it may decline to 1.0850, with a further possible drop to 1.0835. If the price is above this point, it may appreciate to 1.0895, with a potential upside to 1.0910.

GBP/USD: The pivot point is 1.2680. If the price is below this point, it may fall to 1.2640, with a further possible decline to 1.2625. If the price is above this point, it may rally to 1.2700, with a potential upside to 1.2720.

USD/JPY: The pivot point is 155.10. If the price is above this point, it may appreciate to 156.20, with a further possible gain to 156.65. If the price is below this point, it may depreciate to 154.75, with a potential downside to 154.30.

USD/CHF: The pivot point is 0.9040. If the price is above this point, it may rally to 0.9090, with a further possible increase to 0.9105. If the price is below this point, it may decline to 0.9020, with a potential downside to 0.8995.

Crude Oil (WTI) Futures

The pivot point is 78.75. If the price is above this point, it may appreciate to 79.95, with a further possible gain to 80.40. If the price is below this point, it may depreciate to 78.30, with a potential downside to 77.80.

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