Daily Market Analysis

In-depth technical & fundamental analysis for currencies & commodities

EUR/GBP: let's buy the euro
EUR/GBP: let's buy the euro

On the daily chart of EUR/GBP, after implementation of the "Wolfe Waves" and "Shark" (88.6%) patterns, there is a correction as a part of the "Shark" pattern's transformation into 5-0.

Gold faces some pressure
Gold faces some pressure

Gold is correcting down after its previous advance. The metal is now trading below October high at 1243.35.

AUD/USD is actively sold
AUD/USD is actively sold

AUD/USD has already substantially declined last week forming a big engulfing candlestick on W1.

USD/ZAR met resistance
USD/ZAR met resistance

USD/ZAR recoiled down from the resistance line connecting October highs and slipped under the daily moving averages.

USD/JPY: the yen weakens
USD/JPY: the yen weakens

On the daily chart of USD/JPY, the triangle and "Spike and Ledge" patterns based on 1-2-3 are implemented.

EUR/USD is at the key support
EUR/USD is at the key support

EUR/USD is still supported by the 200-week MA at 1.1310. The pair came to the support line connecting November lows for the third time

USD/CAD: expect a correction
USD/CAD: expect a correction

USD/CAD has reached resistance of June highs around 1.3386. It briefly tested levels above this point, but then returned lower.

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