Oil prices will likely remain elevated as there are no signs that the Middle East tensions will ease anytime soon.
Head and shoulders of EUR/AUD?
Information is not investment advice
It seems like on the daily chart, EUR/AUD has been forming the "head and shoulders pattern". However, the right shoulder is forming still. If the pair breaks below 1.5985, we can anticipate a further decline to 1.5910. The next target of the pattern will lie at 1.5814. Nevertheless, indicators signal a possible rebound. The awesome oscillator has formed a bullish divergence with the price chart. RSI indicator is near the oversold area. If the pair stays above 1.5985, we may see a rise to 1.6076.
What is the best way to bet on the positive outcome of the Brexit deal? Technically, the GBP has bullish potential versus the JPY.
There are many positive developments in AUD/JPY. Will it be able to continue rising?
NZD/JPY is surviving a period of correction/consolidation within the long-term downtrend.