EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
GBP/JPY tests the upside
Information is not investment advice
It looks like GBP/JPY is finally trying to break out of the recent consolidation. The pair’s trading above 140.30 (the triangle resistance line and 61.8% Fibo retracement of the March-August decline). Moving averages on the D1 are in the positive setup. The advance above October high at 141.50 will open the way up to 143.25 (100-week MA) and 144.00 (78.6% Fibo). If the price returns to 140.30, new buyers may appear. The further support is at 139.40 and 138.45 (200-day MA).
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.
The dollar index was up late Tuesday afternoon in Asia, extending the 0.8% gain in the previous session, when COVID-19 fears and worries over the US Congress’ stimulus impasse drove a selloff across other assets.
Bank of England Governor Andrew Bailey delivered a speech today. Let’s discuss what it means for a trader.
Gold has started a remarkable downside correction and stands on the key 23.6% retracement area after a failure to hold the 38.2% retracement area.