EUR/JPY is likely to move further within an uptrend. Look for the break out above 121.55!
AUD/USD: trading on the RBA meeting
Information is not investment advice
The Reserve Bank of Australia is expected to cut its Cash Rate from 1.25% to 1% on Tuesday, July 2. Analysts think that this rate cut won’t be the last. As a result, the risks for the AUD are negative.
AUD/USD ran into the 100-day MA at 0.7033. The downtrend resistance line connecting the highs of 2018 and 2018 is also not far from this level strengthening the resistance. The pair formed a bearish engulfing pattern on H4 and will likely drift further down to the 0.6950/40 area and probably lower, to 0.6900.
GBP/CHF formed a "bullish engulfing" candlestick on the W1. On smaller timeframes, we see a higher low that makes the price action resemble an “Inverse Head and Shoulders” pattern.
It’s simply the question of time before gold price gets to the higher levels…