EUR/JPY: 123.70 awaits
EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
GBP/CAD formed a “shooting star”
Information is not investment advice
As we expected, GBP/CAD met resistance ahead of 1.7285 (100-month MA). On the W1, the pair formed a “shooting star” candlestick with a long upper shadow which closed below both the 200- and 100-week MAs. After such a twist, it’s reasonable to expect that the upside won’t be easy for the pair. The outlook will improve when the price manages to rise above the 200-week MA (1.7140). If the price continues the way down and slides below 1.7020, it will likely head toward 1.6920 (50-week MA).
Elizabeth Belugina
Similar
NZD/CAD: short-term correction
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: where to next?
XAU/USD has moved this week in line with its short-term uptrend and the overall long-term uptrend reaching $1 865.
Popular
US Job Claims Keep Markets Skeptical
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.
British Pound a Little Higher on the Day
The GBP is likely to move upward until it reaches the resistance of 1.2795.
Rabobank forecast: AUD will fall further
The aussie is expected to plummet for the next six months. What is the reason?
Choose your payment system
