Daily Market Analysis

AUD/USD has been falling since the start of 2018. On W1, the pair formed a “Falling three method” candlestick pattern.

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.