Daily Market Analysis

On the daily chart of USD/CHF, the return of the pair towards the resistance near the parity level (1.00), will push the pair towards the targets of the 5-0, "Wolfe Waves" and AB=CD patterns.

On the daily chart of USD/JPY, bears managed to reverse the uptrend due to the implementation of the "Three Indians" and "Spike and Ledge" patterns' combination.

On the daily chart of EUR/JPY, the implementation of the "Spike and Ledge" pattern, in particular, the fall of the pair below the lower border of the "ledge" between the 127.6 and 129.25 levels, made the pair reach the 88.6% target of the "Shark" pattern.

On the daily chart of GBP/USD, bulls try to push the pair back within the triangle's borders and implement the "Wolfe Waves" pattern.

GBP/NZD has been correcting up since the middle of December.

On the daily chart of USD/CAD, bulls managed to reach the 127.2% and 88.6% targets of the AB=CD and "Bat" patterns.

As long as XAU/USD is trading above 1235, it has a strong chance of strengthening to 1300 and 1320 in the medium term.

USD/JPY made a big break down last week and fell until it got supported by 100-week MA at 111.00.

On the daily chart of AUD/USD, the 88.6% target of the "Shark" pattern was reached.

Brent fell below 56.80 last week (50% Fibonacci retracement of the 2016-2018 advance; 200-week MA, 50-month MA).

On the daily chart of NZD/USD, bears managed to pull the pair down due to the "Three Indians" pattern's implementation.

NZD/USD is testing support of the short-term range between 0.6790 and 0.6760.