CHF/JPY has been consolidating within a pennant formation since February.
Daily Market Analysis
There’s a scope for an advance to the 2018 resistance line at 112.80.
XAU/USD has been consolidating within the narrowing wedge since 2016.
WTI oil formed a “shooting star” candlestick on W1 around 61.8% Fibonacci resistance of the October-December decline.
If we look at the daily chart, we’ll see a diamond-shaped broad consolidation range.
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GBP/USD has been consolidating between 1.3120 and 1.3010. Yesterday the pair broke below the support of the short-term triangle.
This month EUR/NZD broke the downtrend resistance line which was in place since the start of January.
CAD/JPY is sensitive to the market sentiment: if risk appetite improves, the pair will rise, while if traders become risk-averse, the pair will fall.
The price action seen at the H4 chart resembles an inverted “Head and Shoulders” pattern with a neckline at 1.1250.
NZD/USD closed last week below the declining 50-week MA (0.6765).
AUD/CAD met resistance at the line connecting December and March highs.