EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
GBP/USD: is there any hope?
Information is not investment advice
GBP/USD is a hard thing to trade right now given the concerns about Brexit. This week, however, the pound has found some temporary relief as investors’ concerns went down a notch. In addition, the pair was supported by the broad weakness of the USD.
If you look at the H4 chart, you will see a series of higher lows. The price is also above the 100- and 50-period MAs. All of this would allow the pound to gain if the US data disappoints. The rise above 1.2750 will allow the pound to get to 1.2795 (38.2% Fibo of the May decline). Bears will regain their powers below 1.2680.
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