With the ongoing bullish momentum in Cryptocurrencies like BTC, ETH and Commodities like Silver and Crude, now Platinum also joined the bull rally by breaching a 6 year high. Platinum is rising due to an increase in demand. For the year, it has gone up by more than 15% but still compared to Gold and Silver the gain is less on a YoY basis.

Technically, prices might continue to rise. $1300 is the immediate resistance for the Platinum, if it manages to cross the level next immediate resistance is near to $1400. While on the downside $1204 is the first support which is 200 days SMA.

Gold has been trading sideways for more than 6 weeks now. Prices of Gold are taking the support near to its 50 weeks SMA which is at $1830. Gold hit the lifetime high of above $2000, since then it is trading in a descending channel. Immediate support is at $1758 which was the previous low for the channel, below that next important support is at 100 weekly SMA which is at $1635. While on the higher side if it resumes the long term trend, it might attempt to touch the $1900 level again.

Silver continues to trend in an upward direction. Squeeze in the physical market and rising demand is holding the prices of Silver. It is facing a resistance near to its previous high of $30. Weekly support for the Silver is near to $24 below that $21.93 is major resistance which is 50 days SMA.

EUR/USD managed to close the last week on a positive note. It took the support to 1.1950 level and bounced back to above 1.21 level. Technical outlook is positive as long as it holds the 1.1950 level, on the higher side it might attempt to cross 1.24 and 1.2550 which is more than 7 year high for the currency.

GBPUSD is trading strong due to optimism of vaccine rollout and its positive impact on the UK economy. The weekly chart of GBPUSD shows strong uptrend. On a weekly basis above 1.40 level the next target will be 1.4370 level which was the previous high two years back. Also on a monthly chart, 100 SMA is near to 1.41360.  While on the downside it has a support at 1.37 and below that 1.30193 which is 200 days SMA.

BTC/USD has continued to rallied up. Last week it rallied almost 25% and managed to close the week $48900 level. It is trading just near the psychological level of $50,000. Interestingly, next major resistance is at $50318 which is 161.8% Fibonacci retracement level from the early breakout in March-2020. Next Fibonacci resistance, which is 261.8% retracement level is at $63559 level. While on the downside first support is at $45900 level and below that next important support is at $39270.

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