EUR/JPY: 123.70 awaits
EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
AUD/CAD is going for a butterfly
Information is not investment advice
If we look at the weekly chart of AUD/CAD, it looks like the pair is forming a bullish “butterfly” harmonic pattern. In line with this pattern, it can move down to 0.8975 (50% Fibonacci retracement of the 2008-2012 advance) and then bounce targeting 0.9250 (uptrend resistance line since 2018). This consideration can form a basis for a couple of trade ideas.
Elizabeth Belugina
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EUR/USD has violated the first resistance trendline area 1.1680
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