The price reached the target of the buy trade we recommended on Monday, and now it’s time to reevaluate the situation.
Daily Market Analysis
NZD/CAD approached the resistance line connecting 2017 and 2018 highs (0.9280) and 78.6% Fibo level (0.9260).
On the daily chart of USD/JPY, bears try to move the pair outside the triangle and lower border of the upward channel.
The oil market is awaiting news from the OPEC meeting, and traders should expect an increase in volatility and sharp moves of the price.
On the daily chart of EUR/JPY, there are implementations of the "Broadening wedge" and "Shark" patterns (88.6% target).
On the daily chart of USD/CHF, there is a transformation of the "Shark" pattern into 5-0.
On the daily chart of GBP/USD, bears managed to move the pair outside the triangle.
On the daily chart of XAU/USD, the successful break of the resistance at 1,229 signal the further rise of the gold.
On the daily chart of USD/CAD, the targets of "Shark" (88.6%) and "Wolfe Waves" patterns were implemented.
There may be a harmonic pattern forming that can give the cryptocurrency a short-term bullish impulse.
The pair closed below the trendline support line on Monday. MACD is declining.
While risk-sensitive currencies like AUD and NZD try to figure out whether to close gaps or not, the USD is strengthening versus gold.