EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
AUD/USD: a bet on the stronger greenback
Information is not investment advice
How to make a bet on a less dovish Federal Reserve? One of the options is to try selling AUD/USD. The pair’s trading below the weekly pivot point in the 0.7060 area. This area provided support for the pair in February and at the beginning of April. Now it will act as resistance. The decline may target the psychologically important level of 0.70 as well as 0.6950.
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 number of Americans applying for initial unemployment benefits came in at a larger-than-forecast 870,000 last week, signaling that the recovery in the labor market is losing momentum as the coronavirus pandemic lingers and layoffs continue apace.
The GBP is likely to move upward until it reaches the resistance of 1.2795.
The aussie is expected to plummet for the next six months. What is the reason?