USD/CAD remains within a downtrend. As a result, selling the pair as it turns down from resistance is the best strategy. Support lies at 1.3125.
GBP/AUD: the downtrend is in place
Information is not investment advice
GBP/AUD opened the week with a gap down. Things like that have already happened before and, back then, the price continued its way down. On the W1, the pair is now below the 50-week MA at 1.8835. The further resistance lies at 1.8990 – as long as GBP/AUD is below this level, the outlook will remain negative. On the downside, targets lie at 1.8640 (December low) and 1.8450 (100-week MA). In the short term, the price can attempt to get higher, to 1.8865, but sellers will likely re-emerge between this level and 1.8990.
Trade idea for GBP/AUD
SELL 1.8930; TP 1.8640; SL 1.9000
SELL 1.8750; TP 1.8640; SL 1.8780
EUR/AUD formed a candlestick with a long upper shadow on the D1. The pair is currently testing levels below the 50- and the 100-period moving averages.
USD/JPY has recently formed a higher low at the end of last week. Today the pair is testing levels above the 50-day MA.
EUR/USD very little changed since this morning trading at the area of 1.1680, while USDJPY is trading at 104.50
S&P dropped to the one-month low amid the overall risk-off market sentiment.
Futures are back in 'red' this morning following a few disappointing tech earnings reports after the US closure.