EUR/USD formed a bullish engulfing pattern on D1 yesterday rebounding from the lower daily Bollinger Band.
Daily Market Analysis
Big moves may be triggered by the meeting of the Reserve Bank of New Zealand early on Wednesday.
GBP/CHF found resistance in the 1.3100 area (resistance line connecting July and November highs).
USD/TRY has been trying to recover since the end of January.
EUR/JPY spent more than a month correcting up after its spike down made at the start of January.
USD/CAD found support at the 2018 trendline and the 50-week MA in the 1.3080 area.
XAU/USD keeps declining after it failed to break above 78.6% Fibonacci retracement in the 1321 area.
GBP/JPY will remain under negative pressure as long as it’s trading below the weekly pivot point at 143.30.
If you want to make a bet on the positive risk sentiment, you can consider buying CAD/JPY.
EUR/NZD tends to move in steep trends. Currently, it’s in the phase of decline.
AUD/USD has met the resistance of the 200-day MA at 0.73.
USD/CAD has reached the target at 1.3115 we’ve given earlier this week.