Take a look at the weekly chart of CAD/CHF. A longer-term trade idea may emerge from here.
Daily Market Analysis
In April, USD/CHF broke above the resistance line connecting 2018 and 2019 highs in the 1.0130 area.
XAG/USD broke below the 61.8% Fibonacci retracement of the November-February advance at 14.77.
The upside in GBP/JPY was limited by the 50-day MA in the 145.90 area.
EUR/USD spiked towards 1…
Apple Inc. released Q1 earnings report this week. The stock rose to the highest level since October above $215.
How to make a bet on a less dovish Federal Reserve? Sell AUD/USD!
USD/JPY failed to close last week above the 200-week MA at 111.85.
On W1, EUR/CHF formed a bearish candlestick with a long upper shadow.
It will be difficult for bulls to keep pushing the price to the upside.
The stock of Cisco formed a doji “shooting star” candlestick on the weekly chart.
On D1, the pair formed a bearish “shooting star” candlestick ahead of the resistance line from December high.