EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
EUR/AUD reversed down
Information is not investment advice
EUR/AUD is currently testing the support line from the start of 2017. This week the pair went below the 50-week MA at 1.5965. There’s a “shooting star” (bearish pattern) on MN. On D1, we can see a complete “Head and shoulders” pattern. Notice that the pair even retested the pattern’s neckline and then was rejected further down. EUR/AUD would need to return at least above 1.60 for buyers to have a chance to turn the situation their way. The decline below 1.5895 (23.6% of the 2017-2018 advance) will open the way down to 1.5810 and 1.5740.
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.
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EUR/USD has violated the first resistance trendline area 1.1680