XAU/USD retraced 78.6% Fibonacci of April-August decline.
Daily Market Analysis
NZD/USD rose to the highest levels since the start of December.
EUR/USD is continuing its sideways dynamics between 1.13 and 1.15, in which it has been trading for the last 3 months.
Traders are eager to sell the USD on its attempts to recover.
There can be no doubt that a spike in volatility awaits the British pound today.
On D1, the downtrend continues, MAs are in the bearish position.
This week we can await a big move: either to the previous week’s high or to 78.6% Fibo level.
The pair will be vulnerable for a decline to support at 1.0440.
Since the end of December, the price of WTI has substantially recovered.
EUR/CHF formed an ‘Inside bar’ candlestick pattern followed by a ‘Fakey’.
The pair’s continuing the overall downtrend since October as it breached down the wedge earlier this month.
USD/SGD has rebounded from the 50-week MA (1.3520) and is now retracing November-January decline.