USD/CAD was rejected down by the resistance in the 1.3460 area. The pair is now trading below the weekly pivot point at 1.3385.
Daily Market Analysis
Information is not investment advice
There's a local 'Shooting Star' pattern, but the MA acted as support, so we've got a bullish 'Hammer', which hasn't been confirmed yet...
It's likely to have a local downward correction towards the previously tested support...
There's a bullish 'Harami', so there's an opportunity to have a local correction towards the upper 'Window'...
It's likely to have an upward price movement towards the previously tested resistance towards the 89 Moving Average...
The UK parliament will vote on the last version of Theresa May’s Brexit deal on Tuesday, March 12.
GBP/CAD made an attempt last week to rise to the 200-week MA in the 1.7750 area but then turned down and closed around 1.7460
It's likely that the pair is going to test the lower 'Window' and the 55 MA. The subsequent pullback from these levels could lead to...
The pair is likely going to test the nearest important support at 1.0059 - 1.0044. In case of a pullback from this area...
EUR/JPY has made a spectacular decline this week because of the weaker euro.
GBP/USD is consolidating ahead of the release of the US nonfarm payrolls figures at 15:30 MT time.
It’s amazing how the sentiment drives the markets. Let's find out what may drive gold back to its highs.