Daily Market Analysis

In-depth technical & fundamental analysis for currencies & commodities

GBP/USD: trade opportunities
GBP/USD: trade opportunities

GBP/USD formed a “Piercing line” pattern on the D1. The pair rose to the resistance line that connects April 30 and May 8 highs.

EUR/USD: bullish intentions
EUR/USD: bullish intentions

The recent initiative for a $546-bln financial aid package in the Eurozone made the EUR/USD break local resistance. How much fuel does it have?

GBP/AUD: the downtrend is in place
GBP/AUD: the downtrend is in place

GBP/AUD opened the week with a gap down. Things like that have already happened before and, back then, the price continued its way down.

GBP/CHF: choose a level for selling
GBP/CHF: choose a level for selling

GBP/CHF slipped below the 50-day MA this week. The line is currently acting as resistance at 1.1905. Earlier declines below it led to bigger moves down.

USD/JPY tested support
USD/JPY tested support

USD/JPY has returned below the 50-day MA as the market’s risk aversion increased. It seems that the market has formed an interim top.

EUR/USD rebounded from support
EUR/USD rebounded from support

EUR/USD recovered from the March-April support line and formed a “Piercing line” candlestick pattern on the D1.

AUD/NZD formed a top
AUD/NZD formed a top

AUD/NZD formed a “shooting star” candlestick on the W1. The pair ran into the resistance line from the 2018 highs and failed to close above the 200-week MA at 1.0650.

GBP/AUD: bearish reversal
GBP/AUD: bearish reversal

GBP/AUD has breached the support line from August 2019. What is happening at the chart looks like a pretty big change.

Technical levels for GBP/USD
Technical levels for GBP/USD

The movement in GBP/USD hasn’t started yet, but it surely will. For now the pair’s consolidating in the 1.2390/1.2295 area.

NZD/USD is pulling down
NZD/USD is pulling down

NZD/USD may be on the verge of breaking to lower levels. The pair formed a doji candlestick with a long upper shadow on the D1 - this is a bearish sign.

EUR/USD has breached support
EUR/USD has breached support

EUR/USD had been testing the support line connecting March and April lows. On Thursday, the pair slipped below this line.

GBP: three factors
GBP: three factors

Britain is at the crossroads of the virus fight. What is the outlook for the GBP/USD?

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