EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
Bears keep playing with oil
Information is not investment advice
Oil prices remain under pressure. After Brent has broken the consolidation range to the downside and fell below 30.00, it got some support ahead of 27.00. At the same time, the Awesome Oscillator on the D1 formed a negative “saucer” signal. As a result, the odds are that the price will revisit lower levels, such as 25.00 (support on March 19-23). On the H1, the Moving Averages are already in the negative order. On the H4, 100-period MA provides resistance at 28.90.
Trade idea for Brent oil
SELL 26.70; TP 25.20; SL 27.05
To trade Brent with FBS you need to choose BRN-20M in MT4.
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.
US stocks are set to open lower Friday, with investors worry over rising tensions between the US and China, deadlock over the next virus relief bill and possible disappointments from the key monthly employment report.
The pair was falling down amid the waning US dollar. However, the situation changed this month.
Dollar continues to keep firmer on the day, all eyes on the US jobs report later.