EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
GBP/CAD is ready to rock
Information is not investment advice
Times are quite turbulent for the British pound. GBP/CAD has already retraced down 61.8% of the August-September advance. The price is now trying to stick to the 50-day MA in the 1.6230 area. Still, the Canadian dollar looks more attractive than the pound. Unless there’s a breakthrough in Brexit talks, the pair will likely slide to the support line connecting August and September lows and 78.6% Fibo around 1.6050. Resistance lies at 1.6300 and 1.6375.
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 has moved this week in line with its short-term uptrend and the overall long-term uptrend reaching $1 865.
USD/JPY has been rising for almost a week except for Monday, but the strong resistance of the 50-day moving average at 105.80 may stop it from moving higher.
BoA released the report with the bullish forecast for the S&P 500 and shared its technical analysis. Let's discuss it in detail.
EUR/USD has violated the first resistance trendline area 1.1680