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George Ma
May 15 09:00

Forex analytics for May 15, 2020

Be prepared.
Short-term USD/JPY pair price decline stayed above the support level of 106.75 - 107.10, forming a false break-up with a bounce up. However, USD/RUB experienced a short-term price growth that stopped at the upper end of the medium-term downward channel, forming a false break-down with consolidation.

After stopping the decline at the historical support level 8460 Bitcoin started to rise sharply, blocking the gap formed earlier this week. US dollar index broke through the resistance level at 100.35 after bouncing back from the historical support level at 99.80, forming a short-term consolidation.
XAU/USD gold after long false breakdowns of the historic support level at 1690 started going upwards amid high volatility. Brent oil from the middle of last week keeps consolidating below the strong level and key resistance level at 31.25.