It looks like CAD/JPY formed a “Head and shoulders” pattern. The pattern may not look very pretty but it has all the required elements.
Daily Market Analysis
EUR/USD formed a bearish candlestick with a big upper wick on the weekly chart.
EUR/USD met resistance at 1.1450 and turned lower.
USD/JPY broke below the January-March support line and the picture for the pair turned bearish.
Netflix stock closed yesterday above February and March highs in the 371.00 area.
The outcome of the Federal Reserve’s meeting was dovish enough to let gold prices soar.
Google stock has been trading on the upside since the start of the year.
The Mexican peso is supported by the rising oil prices, while the USD weakened ahead of the Fed’s meeting.
The pair consolidated in the middle of the bullish channel during the last 5 days.
Last week the stock of McDonald’s took off from the support in the 180.50 area and approached March high at 185.60.
Pfizer continues the downtrend since the end of the last year. Last week the stock experienced a heavy selloff.
EUR/NZD has stalled ahead of the downtrend resistance line.