EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
USD/CAD returned to resistance
Information is not investment advice
USD/CAD shot up this week but met the resistance of the daily MAs in the 1.3200 area. Here’s also the 50% retracement of the October advance. The further resistance levels are located on the way to 1.3228 (61.8% Fibo). On the D1, the pair formed an “inside bar” as it tried to consolidate after the rapid growth. Support is located at 1.3130 (September low, yesterday’s low). A decline below this level will lead the pair back to 1.31 and 1.3050.
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.
The dollar index was up late Tuesday afternoon in Asia, extending the 0.8% gain in the previous session, when COVID-19 fears and worries over the US Congress’ stimulus impasse drove a selloff across other assets.
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.