By Orbex
USDCHF awaits catalyst
The US dollar consolidates as traders reposition themselves ahead of nonfarm payrolls.
The pair has been changing hands in a narrow range between 0.9100 and 0.9200. Multiple attempts at both ends suggest a lack of commitment.
A catalyst-driven breakout would dictate the direction for the days to come. A rally would test the recent peak at 0.9240, a prerequisite for a reversal above 0.9300.
On the downside, a sell-off may dampen optimism and lead to a retest of the demand zone at 0.9050.
Free Reports:
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
XAGUSD tests major resistance
Bullions await a breakout as Treasury yields stabilize going into today’s high-impact jobs report.
Silver’s recovery above the psychological level of 24.00 has attracted more buying interest. However, the price has met resistance at the supply zone near 24.35, which coincides with the 30-day moving average.
A bullish breakout would trigger an extended rally as sellers rush to cover. Then 25.00 would be the next target.
However, a plunge below 23.80 may cause a correction towards the daily support at 23.00.
NAS 100 shows exhaustion
The Nasdaq 100 holds onto the high ground as investors ponder how the labor data may affect the QE.
The index is looking to extend gains from the all-time high of 15700. Nonetheless, sentiment remains bullish with signs of overextension.
An RSI bearish divergence is a heads-up that a correction might be due. A break below 15520 may pull the trigger and 15300 on the 20-day moving average would be an important support.
On the upside, 15800 would be the immediate target if the bulls can keep up with the momentum.
Article by Orbex
Orbex is a fully licensed broker that was established in 2011. Founded with a mission to serve its traders responsibly and provides traders with access to the world’s largest and most liquid financial markets. www.orbex.com
- Economic activity in China is slowing. Silver has fallen by more than 8% May 18, 2026
- USD/JPY Rises for Sixth Straight Day: Yen Back on the Cusp of Intervention May 18, 2026
- Optimism surrounding the US-China summit in Beijing supported the markets May 15, 2026
- Gold Falls on US Inflation Concerns as Week Ends in Losses May 15, 2026
- The oil market may remain in a state of severe supply shortage until autumn May 14, 2026
- GBP/USD Under Policy Pressure: What Lies Ahead for the Prime Minister? May 14, 2026
- European stock markets declined amid rising concerns about an energy crisis May 13, 2026
- USD/JPY Continues to Climb Amid External and Domestic Pressures May 13, 2026
- You can change your emotions – but it’s a 2‑step process that takes some effort May 12, 2026
- The United States rejected Iran’s proposal for resolving the conflict. Oil prices surged again May 12, 2026
