Facebook rose on a positive earnings report. Will the stok manage to sustain the upside?
Daily Market Analysis
This week USD/CAD had broken above the recent trading range. What's next?
GBP/USD turned down from the levels around 1.3015 this week and fell below the 100- and 200-day MAs in the 1.2960 area.
AUD/NZD met the resistance of the 50-week MA in the 1.0700 area.
EUR/USD will remain under negative pressure as long as it stays below the weekly pivot point at 1.1262.
Last week NZD/USD made a significant thrust to the downside.
AUD/NZD experienced an impressive rally since the end of March.
Citigroup stock jumped this week after the bank released its financial results for Q1.
The market has shown that EUR/USD remains a sell on its attempts to recover.
EUR/CHF met resistance at the 50-week MA around 1.14. The Moving Average has recently formed a “dead cross” with the 100-week MA.
CHF/JPY has been consolidating within a pennant formation since February.
There’s a scope for an advance to the 2018 resistance line at 112.80.