EUR/CAD has approached the support line from the end of October.
Daily Market Analysis
The pound has made 2 sharp declines in January but then was bought back and quickly rebounded.
It looks like the downside is still not finished.
On W1, GBP/CHF is trading in a descending wedge. The pair recoiled from the pattern’s lower border and turned up.
NZD/USD made a confident rebound during the recent two weeks.
Last week EUR/USD tested 1.1570 but then retraced down and closed below 1.15.
Britain will release some economic data today. The forecast is positive. It’s possible to try to exploit this idea trading GBP/JPY.
USD/MXN is testing levels below 50-week MA and is vulnerable for a slide to the 100-week MA.
The pair slid back below the Fibonacci level. Moving averages on H4 are in the negative order.
The pair closed below 50-month MA in December and below 100-week MA (1.3600) last week.
USD/CAD has turned sharply down at the start of January and has been declining since then.
Gold is at the upper Bollinger band and 50-week MA went below 100-week MA.