EUR/JPY: 123.70 awaits
EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
AUD/JPY looks exposed
Information is not investment advice
AUD/JPY formed a “shooting star” candlestickon the W1. This week, it’s testing levels below the 50-week MA at 75.45. That’s probably why the pair went down on the news that a pneumonia-like virus is spreading in China: the technical setup was negative and traders took the first cue from the fundamentals to go selling. All in all, we don’t know for how long this will affect the market, but in the short term the pair is vulnerable for the further decline to the support at 74.90. The slide below the 200-period MA on the H4 at 75.27 will confirm the downside. The picture on the H4 also looks like a double top with the neckline around 75.60 – the price will remain under pressure as long as it’s staying below this point.
Elizabeth Belugina
Similar
NZD/CAD: short-term correction
NZD/CAD has reached a 200-week MA (0.8950) and formed a “shooting star” candlestick on the D1. On the H4, we see a lower high.
XAU/USD: where to next?
XAU/USD has moved this week in line with its short-term uptrend and the overall long-term uptrend reaching $1 865.
Popular
Stocks futures rose on Monday
Stocks futures rose on Monday, indicating a higher start to the first session of August.
BoE meeting and other highlights of the week
The Bank of England is expected to keep its monetary policy unchanged this Thursday.
The US dollar suffers its worst month in a decade
US cases jump by 67.000, US agrees to pay Sanofi and GSK 2.1 billion dollars for 100 million doses of coronavirus vaccine.
Choose your payment system
