EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
EUR/AUD is at a major resistance
Information is not investment advice
Check the chart of EUR/AUD. The pair has reached the 50% Fibo retracement of the 2008-2012 decline (!). In previous years, this level has always held buyers back.
The D1 chart shows that the current high is not supported by oscillators (i.e. there’s a bearish divergence). In addition, the euro area will release industrial production today and the figures are expected to be bad. All of this makes us assume that EUR/AUD will correct down.
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.
USD/JPY has been rising for almost a week except for Monday, but the strong resistance of the 50-day moving average at 105.80 may stop it from moving higher.
BoA released the report with the bullish forecast for the S&P 500 and shared its technical analysis. Let's discuss it in detail.
EUR/USD has violated the first resistance trendline area 1.1680