Daily Market Analysis

It seems that EUR/GBP has finally broken out of the range within which it was trading in March and April.

The US dollar strengthened versus the Chinese yuan as the trade deal between the United States and China met unexpected obstacles.

GBP/CAD met the resistance of the 50-month MA in the 1.7765 area.

GBP/USD formed a lower high just above 1.30 (psychological level, 50-week MA).

For 3 weeks in a row, EUR/CHF tried to close above the resistance line connecting October and February highs and failed.

There are many ways to bet on the decline in the British pound.

The day promises to be quite interesting for USD/CAD. The market awaits the news about the trade talks between the United States and China.

AUD/NZD spiked to 1.0720 this week after the Reserve Bank of New Zealand cut interest rate but then quickly retreated back to 1.06.

The stock of Nvidia retraced about 40% of the 2018 decline but met resistance in the 193 area.

It looks like the euro is vulnerable to further declines versus the Japanese yen.

Although EUR/USD has recently tested levels just above 1.11, buyers didn’t let the euro fall lower.

Take a look at the weekly chart of CAD/CHF. A longer-term trade idea may emerge from here.