USD/JPY is pressured by resistance
USD/JPY has declined from 111.70 and went into consolidation around 107.50.
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
Similar
STOCKS: mystery ahead
S&P was looking upwards just a day ago. Something changed?
Levels to trade AUD/USD
After hitting a multiyear low just above 0.5500 on March 19, AUD/USD has formed a higher low in the 0.5720 area.
Popular
GBP or NZD: which currency has potential?
These days the US dollar has a lock on everyone’s attention. However, there are some interesting cross-currency movements that you can gain from.
USD/JPY is pressured by resistance
USD/JPY has declined from 111.70 and went into consolidation around 107.50.
STOCKS: mystery ahead
S&P was looking upwards just a day ago. Something changed?
Choose your payment system
