CHF/JPY reached long-term resistance
CHF/JPY is trading at the resistance line since September 2018 high. The upside is also limited by the 100-day MA at 108.85.
GBP/AUD has potential
Information is not investment advice
GBP/AUD is having a bumpy ride. The pair has been trading in a downtrend since May. This week the pair violated the resistance line of the channel and spiked towards 1.8200. However, the price failed to stay there and formed a pin bar candlestick. Together with the previous inside bar pattern the pin bar formed a so-called “fakey”, the reversal pattern, and then returned inside the channel. If the week ends below 1.7867, it would mean that the pair failed to break above 100-, 200- and 50-week MAs. Given all that and the negative data awaited from the UK, GBP/AUD is likely to retest 1.7860 and potentially even 1.7565. Selling is a preferred strategy until the pair is below 1.7860 (July 3-5 lows).
Elizabeth Belugina
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CHF/JPY reached long-term resistance
CHF/JPY is trading at the resistance line since September 2018 high. The upside is also limited by the 100-day MA at 108.85.
EUR/NZD: short-term idea
EUR/NZD is consolidating within a symmetric triangle around 1.7400. Where will it go next?
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