AUD/USD formed an inverted "Head and Shoulders’ and is targeting 0.7815, 0.7840, and 0.7860.
EUR/GBP is at the edge of the channel
Information is not investment advice
EUR/GBP has reached the lower end of the bullish channel visible on the D1. As long as it’s trading below 0.9100, we will keep seeing a top on the chart that greatly resembles a “Head and Shoulders” pattern. Selling will become an option in case the pair breaks below the channel support at 0.9040. The downside targets will lie at 0.9000 (38.2% Fibo of the March-August advance) and 0.8900 (50% Fibo, H&S target). On the upside, if the price rises above 0.9140, the next resistance will be at 0.9180. An advance above this level will open the way back up towards 0.9300.
USD/JPY rose to the resistance of the 50-week MA at 106.00. The pair is not at the resistance line since the end of December.
USD/CAD reversed down from 1.2865 last week and formed a candlestick with a long upper wick on the W1.
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