EUR/JPY is likely to move further within an uptrend. Look for the break out above 121.55!
EUR/USD is under pressure
Information is not investment advice
After EUR/USD broke the 1.1180/1.1070 range to the downside, it has been trading within the short-term downtrend. The 50-day MA at 1.1040 which used to be a support, acted as resistance making the euro move even lower. On the H4, moving averages are in a negative position. There’s support in the 1.10/1.0993 area (psychological level, 61.8% Fibo of the October advance). If the price gets below it, the next target will be at 1.0940 (78.6% Fibo).
Notice that the market awaits the improvement in the US CPI figures later today as well as the testimony of the Fed’s Chair Powell, so there will be volatility.
GBP/CHF formed a "bullish engulfing" candlestick on the W1. On smaller timeframes, we see a higher low that makes the price action resemble an “Inverse Head and Shoulders” pattern.
It’s simply the question of time before gold price gets to the higher levels…