USD/JPY: a SELL opportunity
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.
EUR/NZD is forming a top
Information is not investment advice
Last week it looked like EUR/NZD may test the uptrend which still remains strong. Now we are much more certain that the pair will test lower levels. Have a look at the bearish candlestick with a long upper wick formed on D1 - it’s sending a clear negative signal. Add the fact that on H4 we clearly see a lower high and a potential “Head and Shoulders” pattern. Indeed, 1.7200 is a hard resistance, so a pullback to the 1.70 area and maybe lower is likely.
Elizabeth Belugina
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USD/CAD looks vulnerable
USD/CAD reversed down from 1.2865 last week and formed a candlestick with a long upper wick on the W1.
GBP/USD may go for resistance
The 200-period MA just above 1.3650 supported GBP/USD. The pair formed a higher low on the H1.
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