EUR/AUD formed a candlestick with a long upper shadow on the D1. The pair is currently testing levels below the 50- and the 100-period moving averages.
Catching the moves of EUR/JPY
Information is not investment advice
EUR/JPY reversed down at the 200-week MA around 124.45. The pair became really overbought and formed a reversal pattern on the D1. On the H1, it found some support at the 121.30 (50-period MA). However, the fall below this line will open the way down to 120.60 (38.2% Fibonacci retracement of the May-June advance) and probably even 119.40 (50% Fibo). Buyers will regain confidence only if EUR/JPY rises above 122.00.
Trade ideas for EUR/JPY
SELL 121.25; TP 120.60; SL 121.40
BUY 122.10; TP 122.85; SL 121.95
The Australian dollar has been losing value against the USD. How low may it go?
XAU/USD is edging higher, but may meet soon the strong resistance. What is the forecast?
The euro has started the week on a positive footing, surging to the key resistance of 1.1800.