AUD/USD has been falling since the start of 2018. On W1, the pair formed a “Falling three method” candlestick pattern.
Daily Market Analysis
USD/CAD is another pair that has the potential to make significant moves in the near term.
Last week USD/CHF broke below the uptrend support line of 2018.
CHF/JPY met the resistance of the declining 50-day MA and turned down. Its potential target lies at the support line connecting the lows of May in the 108.25 area.
Check the chart of EUR/AUD. The pair has reached the 50% Fibo retracement of the 2008-2012 decline.
The NZD remains in a downtrend versus the CHF and the JPY as the market is still in the risk-averse mode.
WTI oil formed a “dark cloud cover” pattern on D1 near the downtrend resistance line.
On H4, we can see a big top above 0.6610.
USD/JPY managed to rise above the 50-period MA on H4 and get above the highs of last week.
This week the pound has found some temporary relief as investors’ concerns went down a notch.
XAU/USD is currently consolidating within a triangle on H4 offering a perfect opportunity to trade on a breakout to either direction.
BTC/USD slipped at the beginning of June. During the recent days, it has found support in the $7,550 area and tried to recover.