EUR/JPY is likely to move further within an uptrend. Look for the break out above 121.55!
USD/CAD awaits US data
Information is not investment advice
USD/CAD is another pair that has the potential to make significant moves in the near term. Last week the pair broke below the uptrend support line from the start of 2018. It now provides resistance together with the 100-day MA at 1.3350.
The United States will release retail sales figures at 15:30 MT time. If the data turn out to be weaker than expected, the break down continues targeting 1.3285/70. The ultimate support is at 1.3120 (200-week MA). If American figures are strong, we’ll target the 1.3400 area on the break above 1.3370.
GBP/CHF formed a "bullish engulfing" candlestick on the W1. On smaller timeframes, we see a higher low that makes the price action resemble an “Inverse Head and Shoulders” pattern.
It’s simply the question of time before gold price gets to the higher levels…