EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
NZD/USD: upside won’t be easy
Information is not investment advice
NZD/USD has been trading in a very volatile fashion recently. The latest development has been that the pair met resistance in the vicinity of 0.67. The pair failed to fix above the declining 100-day MA that had gone below the 200-day MA in June. There’s also resistance in the form of the 50% Fibo retracement of the March-May decline. Only an advance above 0.6710 will allow bulls to fight back.
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