Technical analysis of EURUSD
USD/CAD: price to test local high
Information is not investment advice
There's a 'Tower' pattern, which has been confirmed, so we've got an ongoing bearish correction. At the same time, there's an 'Inverted Hammer', so the market is likely going to reach the previously tested resistance at 1.3455. The subsequent pullback from this level could lead to a decline towards the 89 Moving Average (1.3294).
EUR/USD spiked down to the September low in the 1.0930 but failed to stay there and closed around 1.1060 on Thursday.
When looking for pairs to trade to benefit from today’s meeting of the European Central Bank, pay attention to EUR/NZD
CHF/JPY formed a “bullish engulfing” pattern on the W1.