EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
GBP/CAD will be volatile
Information is not investment advice
GBP/CAD made a huge leap to the upside yesterday and got above 1.65, but arrived at the resistance line from May. The odds are that Friday will once again bring the pair in motion: the market awaits Brexit-related news, while Canada will publish important labor market figures at 15:30 MT time.
The return below 1.6500 will open the way down to 1.6430 (100-day MA) and potentially to 1.6300 (September-October support line). This will happen if no signs of Brexit agreement come through and if Canadian figures surpass the weak forecast. On the other hand, the rise above yesterday’s high (1.6575) will open the way up to 1.6685 (September high).
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.
U.S. stocks are set to open lower Friday, continuing the recent selloff with investors' confidence hit by a combination of pandemic, economic and political worries
European stock markets largely weakened Friday, with investors concerned that the second wave of Covid-19 cases will halt the region’s nascent recovery.
XAU/USD formed a “hammer” candlestick on the D1 ahead of the 100-day MA. The price made a higher low on the H4 and now only the resistance at $1 877 separates the precious metal from further gains.