EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
EUR/USD: at one-year highs
Information is not investment advice
Performance in 2020: +1.2%
Last day range: 1.1332 – 1.1458
52-week range: 1.0777 – 1.1496
While the American stock market is disoriented, oil price slumps and the shale companies are brainstorming their way to stay in the business, the euro gets stronger against the US dollar. EUR/USD trades at 1.1363 - the range of one-year highs. They were broken already on Monday, so now the currency goes in a downward correction. The Awesome Oscillator indicates the high ground reached by the currency pair, and before it goes further up it would need to take some rest to gather momentum. In the context of the latest global events, clouds are gathering above the USD. Hence, fundamentally, until good news come to the American side, the dollar is very likely to lose ground to the euro. In the meantime, the ECB interest rate press conference is a major thing to watch this week, so eyes open.
Resistance 1: 1.1505, Resistance 2: 1.1576
Support 1: 1.1340, Support 2: 1.1280
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.
The number of Americans applying for initial unemployment benefits came in at a larger-than-forecast 870,000 last week, signaling that the recovery in the labor market is losing momentum as the coronavirus pandemic lingers and layoffs continue apace.
The GBP is likely to move upward until it reaches the resistance of 1.2795.
The aussie is expected to plummet for the next six months. What is the reason?