CAD/JPY formed a “shooting star” candlestick on D1. This means that the pair will likely move down in line with the overall downtrend.
Daily Market Analysis
Have a look at the chart of EUR/AUD. There’s a bearish divergence between the price and the Awesome Oscillator on D1.
Oil prices rose on Thursday, June 20, as the US President Donald Trump criticized Iran’s attack on a US surveillance drone.
There’s a bullish divergence on the daily chart of GBP/USD.
The Japanese yen keeps strengthening versus other currencies as the market remains in the risk-averse mode.
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.