EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
USD/CAD: a positive impulse
Information is not investment advice
USD/CAD recovered last week from the 2018 support line in the 1.3150/00 area. On D1, the Awesome Oscillator crossed the zero line to the upside. We can see that the pair closed yesterday above the resistance line connecting late January and February highs just above 1.33. This may be a neckline of an inverted “Head and shoulders” pattern. The target of this formation lies on the upside, at 1.3540.
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.
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.
The JPY is the strongest and the NZD is the weakest. Jump in for the fresh analysis!