When Twitter Inc. and Snap Inc. posted quarterly revenue that blew past analysts’ expectations, the results bumped up the shares of the two of their larger rivals: Facebook Inc. and Alphabet Inc.
EUR/AUD tries to form a top
Information is not investment advice
Last week EUR/AUD tested the highest levels since 2009 at 1.6780, but failed to hold there and closed at 1.65 forming a candlestick with a long upper shadow on W1. The pair may form a “Head and Shoulders” and travel significantly lower. However, for now, we don’t see the evidence yet that EUR/AUD formed a second shoulder. A break above 1.6550 (38.2% Fibo of the August 7-9 decline) may lead it to 1.6590 (50% Fibo). The decline below 1.6480 is needed to open the way down to 1.6420. Finally, only the fall below 1.6380 will confirm a top and open the way down to 1.6255.
EUR/USD managed to rise for a very short period of time right after the ECB decision to as high as 1.1798 before declining and giving away its entire gains.
US Equities bounced back again in the past two days, while the S&P500 recovered all of its declines after holding well above its 50-day MA for the fifth time this year.
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