Tips

Japanese yen has broadly strengthened as the demand for it as a safe haven increased.

EUR/GBP has so far been one of the most volatile currency pairs. It rose to 2-year highs and the ascent was fast.

USD/ZAR rebounded from the 200-day MA at 14.18 and went up through the 100- and 50-day MAs.

EUR/USD has dived below support at 1.1100 and 1.1050.

USD/JPY consolidated between 108.40 and 108.95 ahead of the Federal Reserve’s meeting later today.

NZD/USD has turned down on July 22 and retraced more than 38.2% of the June-July advance.

If we look at the weekly chart of AUD/CAD, it looks like the pair is forming a bullish “butterfly” harmonic pattern.

EUR/AUD formed a “bullish engulfing pattern” on W1. Notice that this happened at the support line from the 2017 lows.

USD/CHF shot up last week from the 200- and 100-week MAs in the 0.9840/50 area.

AUD/USD closed below the 50-day MA at 0.6958 and the line connecting June and July lows.

Technical analysis of CAD/CHF

The currency pair was long due for a correction. Last week’s candlestick on W1 is a “shooting star”.