CHF/JPY retraced 61.8% of its August-September decline, corrected down, formed a higher low above the 100-day MA and now seems eager to rise to the 78.6% Fibonacci level at 116.90.
AUD/CHF turned down
2019-11-11 • Updated
SELL 0.7085; TP1 0.7040; TP2 0.6980; SL 0.7100
AUD/CHF met resistance in the 0.7200 area and then turned down. The pair is currently supported by the 50-day MA at 0.7090. The decline below this level will confirm a lower top, trigger a “Head and Shoulders" pattern and open the way down to 0.7040 and 0.6970 (Fibo levels of the January-February advance). The return above the 100-day MA at 0.7125 is needed to improve the short-term outlook.
U.S. stock markets opened higher on Monday, buoyed by hopes for a last-minute agreement on a comprehensive fiscal stimulus package before the elections on November 3.
EUR/AUD formed a candlestick with a long upper shadow on the D1. The pair is currently testing levels below the 50- and the 100-period moving averages.
GBP/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.
The USD is trading at its 7-week low, and it looks like it will continue falling further. Why?
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