Volatility has greatly diminished in USD/JPY. The pair is consolidating in a narrow range on H4, and a breakout is coming.
Daily Market Analysis
AUD/CHF met resistance in the 0.7200 area and then turned down.
XAU/USD reached resistance of the uptrend channel in the area of 1347.
GBP/USD regained some ground on the weakness of the USD and the optimism about Brexit.
AUD/NZD is making movements to the downside which are hard to ignore.
USD/CHF may test lower levels this week as long as it keeps trading below the resistance at 1.01.
The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
USD/JPY formed a big bearish candlestick yesterday that almost engulfed the previous bullish one.
Volatility in BTC/USD has once again died down but a breakout is inevitable.
It’s not confirmed yet, but there may be an exciting trading opportunity you wouldn’t like to miss.
USD/SGD was stopped yesterday by the declining 50-day MA at 1.3610.
EUR/USD formed a bullish engulfing pattern on D1 yesterday rebounding from the lower daily Bollinger Band.