USD/JPY had a bullish week. Yet, we should notice that the pair has reached some heavy resistance: 100-week MA (109.66) and 200-week MA (109.84).
Daily Market Analysis
Information is not investment advice
GBP/USD met resistance at 1.2950 (resistance line connecting the highs of November). The Awesome Oscillator on the D1 is declining.
An overview of the recent performance of Stoxx 600 in the context of the US-China trade wars.
For the past couple of days, USD/CHF has been consolidating below the resistance line that connects the highs of October and November in the 0.9990 area.
EUR/NZD has reached the bearish targets we set last week. The outlook for the single currency still seems quite negative: the price is currently at the lowest levels since September.
Several indicators confirm the bullish reversal of EURUSD.
AUD/NZD is declining for the third week in a row. It’s happening as the AUD is pressured by the weak Australian data, while New Zealand is releasing more decent figures.
Today, NZDCAD gives an example of a bearish reversal scenario confirmed by the RSI and the Stochastic Indicator.
GBP/CAD met resistance ahead of 1.7285 and formed a “shooting star” on the weekly chart.
AUD/USD tried to recover this week, but its advance was stopped by the 100-day MA at 0.6830.
GBP/CAD has broken above the ascending triangle, which is now providing support in the 1.7100/1.7060 area.
EUR/NZD has been descending since the middle of October when it recoiled down from the resistance line connecting 2015 and 2018 highs.