Daily Market Analysis

GBP/USD had been rejected down from the 200-week MA in the 1.3033 area. Then it fell below the 100-week line at 1.2950.

NZD/USD has once again found support in the 0.6830 area. The price action on the H1 chart strongly resembles an inverted “Head and Shoulders” pattern.

Coronavirus keeps disturbing China, and the world. Consequently, gold keeps rising. Reaching $1,600 is "if" or "when"?

WTI oil has reached our previous targets. On the W1, a big bullish candlestick engulfed the previous bearish one.

EUR/NZD formed a “hanging man” pattern on the W1 and went down to trade below the 100- and 50-week MAs.

WTI oil has found support in the 49.35 area for the second time this February.

AUD/CHF formed a higher low on the H1. The pair may be forming something like a “Crab” harmonic pattern.

NZD/USD has met the resistance of the 200-day MA earlier this week (0.6500) and closed below the 100-day MA (0.6460) on Thursday.

Earlier this week, comments of country’s central bank had pushed AUD/USD up from the 2019 lows. Then it met resistance.

EUR/GBP formed an interim bottom in the 0.8930 area and closed above the 50-day MA at 0.8490 on Monday.

Last week EUR/NZD made a triumphant comeback to the upside. The pair rose above the 50- and 100-week MAs in the 1.7000/7025.

S&P 500 met resistance at the 61.8% Fibo of the January 24-27 decline. The index is quite volatile these days offering traders opportunities to make profit.