Daily Market Analysis

In-depth technical & fundamental analysis for currencies & commodities

Bears keep playing with oil
Bears keep playing with oil

Oil prices remain under pressure. After Brent has broken the consolidation range to the downside and fell below 30.00, it got some support ahead of 27.00.

GBP/JPY has bullish momentum
GBP/JPY has bullish momentum

GBP/JPY has formed a higher low, retraced 50% of the February-March decline, closed above 134.40 on Wednesday and is trading above the March high.

EUR/USD: a temporary bottom
EUR/USD: a temporary bottom

On the H4, we can see that EUR/USD has found a temporary bottom in the 1.0770 area. The pair is now trading above the former short-term resistance line going down from March highs (1.0835).

Levels to trade AUD/USD
Levels to trade AUD/USD

After hitting a multiyear low just above 0.5500 on March 19, AUD/USD has formed a higher low in the 0.5720 area.

GBP/USD: outlook remains bearish
GBP/USD: outlook remains bearish

GBP/USD retraced more than 78.6% Fibonacci of the 2019 advance. Last week was the worst for the pair since the Brexit referendum.

CAD/JPY turned down
CAD/JPY turned down

CAD/JPY recovered last week to the 78.00 area (38.2% Fibonacci of the February-March decline), but then turned down again getting back below the 50-period MA on the H4.

USD/JPY tries to recover
USD/JPY tries to recover

After testing the lowest levels since 2016 in the 101.18 area earlier this week, USD/JPY turned up and returned above 105.00.

EUR/CAD: correction time?
EUR/CAD: correction time?

After opening the week with a gap up, EUR/CAD formed two inside bars on the D1. This is the sign that the advance has run out of steam.

USD/CHF: levels for trading
USD/CHF: levels for trading

The decline of USD/CHF from February highs to March lows was epic. The pair then reached support at 0.9185 (2018 low) and turned up.

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