The stock price of eBay Inc. formed a “Shooting star” pattern on W1.
Daily Market Analysis
EUR/USD ran into a bunch of resistance levels between 1.1375 and 1.1420.
The prospect of upside is safe as long as Brent remains above 64.34.
It seems that the gold is finally into the bearish correction.
The stock has been extremely volatile so far: it had the worst trading day in decades on February 14.
XAU/USD formed a pin bar on W1 — such candlestick usually marks a reversal to the downside.
EUR/CAD tested 1.5040 yesterday but then closed below 1.50.
GBP/USD continued its recovery yesterday. The pair rose to the 50-week MA at 1.3150. It’s quite natural to assume that this line will act as resistance.
USD/ZAR met resistance at the line connecting September and October highs and turned down.
GBP/JPY has been moving up since the start of January. The pair broke out of a bullish flag and reached new highs in the 145.00 area.
USD/CHF is indecisive between 1.0025 and 0.9985, where it consolidated for 2 days.
Volatility has greatly diminished in USD/JPY. The pair is consolidating in a narrow range on H4, and a breakout is coming.