EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
EUR/GBP may finally leave its range
Information is not investment advice
EUR/GBP had an extremely volatile month. If we look at the daily chart, we’ll see a diamond-shaped broad consolidation range. The fact that we finally got some big news about Brexit (a delay until October 31) can allow the pair to finally break out of this pattern.
Technical indicators suggest that a break to the upside seems more likely. Notice, however, that breakout trading is risky and requires thoughtful risk management. The negative pressure will return if the pair gets back below 0.8590.
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.
U.S. stocks are set to open lower Friday, continuing the recent selloff with investors' confidence hit by a combination of pandemic, economic and political worries
European stock markets largely weakened Friday, with investors concerned that the second wave of Covid-19 cases will halt the region’s nascent recovery.
XAU/USD formed a “hammer” candlestick on the D1 ahead of the 100-day MA. The price made a higher low on the H4 and now only the resistance at $1 877 separates the precious metal from further gains.