Daily Market Analysis

NZD/JPY has performed well this month forming higher lows and highs. It was supported by the 50-day MA in July and took off from that level.

EUR/JPY broke the support line connecting June lows and thus resumed the downtrend which has been in place since the start of 2018.

EUR/AUD is currently testing the support line from the start of 2017.

It seems that BTC/USD formed a “double top” after it had met resistance at the 61.8% of the 2017-2018 decline in the 13,500 area.

XAU/USD soared in June but didn’t manage to get above 1,440. Is there a pattern on the chart?

The pair may hold at the support in the 0.9820 area for some time and try to test levels around 0.9870/90.

GBP/USD recovered last week from the 1.2440 area but met resistance around 1.2570.

Last week EUR/NZD tried to test levels above 1.70 but failed to hold there and ultimately closed at 1.6820.

NZD/USD has been trading in a very volatile fashion recently. The latest development has been that the pair met resistance in the vicinity of 0.67.

It seems that EUR/CHF is having trouble with returning above 1.1150 (61.8% Fibo of the 2017-2018 advance; 50-month MA).

USD/JPY formed a higher low last week. Then it broke above the resistance line connecting May 13 low and the highs of June.

The pair formed a “double top” pattern at the resistance line that has been in place since the start of 2018.