EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
AUD/NZD: is it time for a correction?
Information is not investment advice
AUD/NZD experienced an impressive rally since the end of March. This week the currency pair ran into the resistance of the 50-week MA (1.0700) and 50% Fibo of the August-March decline. The possibility of a short-term correction down is high. Selling is possible below the 200-day MA (1.0675) with a target at the next Fibo level of 1.0620.
A break above 1.0755 (200- and 100-week MAs) is needed to open the way up to 1.0830 (61.8% Fibo).
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 has moved this week in line with its short-term uptrend and the overall long-term uptrend reaching $1 865.
The New Zealand dollar is rising for the sixth straight day, outperforming its major peers. What is the reason? Let’s find out!
The U.S. Commerce Department said it will issue an order Friday that will bar people in the United States from downloading Chinese-owned messaging app WeChat and video-sharing app TikTok starting on September 20.
Oil keeps rallying for the fourth day in a row after Goldman Sachs claimed that the oil market is in deficit and also because of the recent storm in the Gulf of Mexico, which led to the sharp decline of oil production. It is the best week for oil since June!