Daily Market Analysis

In-depth technical & fundamental analysis for currencies & commodities

GBP/USD: outlook remains bearish
GBP/USD: outlook remains bearish

GBP/USD retraced more than 78.6% Fibonacci of the 2019 advance. Last week was the worst for the pair since the Brexit referendum.

CAD/JPY turned down
CAD/JPY turned down

CAD/JPY recovered last week to the 78.00 area (38.2% Fibonacci of the February-March decline), but then turned down again getting back below the 50-period MA on the H4.

USD/JPY tries to recover
USD/JPY tries to recover

After testing the lowest levels since 2016 in the 101.18 area earlier this week, USD/JPY turned up and returned above 105.00.

EUR/CAD: correction time?
EUR/CAD: correction time?

After opening the week with a gap up, EUR/CAD formed two inside bars on the D1. This is the sign that the advance has run out of steam.

USD/CHF: levels for trading
USD/CHF: levels for trading

The decline of USD/CHF from February highs to March lows was epic. The pair then reached support at 0.9185 (2018 low) and turned up.

Intraday ideas for XAU/USD
Intraday ideas for XAU/USD

After forming a diamond-like top below 1,700, XAU/USD went consolidating. Pay attention to the support and resistance levels!

Will EUR/CAD follow EUR/AUD?
Will EUR/CAD follow EUR/AUD?

Just like EUR/AUD, EUR/CAD has soared during the period since February 20. There’s a chance that the pair will follow the path of EUR/AUD after the BOC meeting.

AUD/USD rose after the RBA meeting
AUD/USD rose after the RBA meeting

As the market expected, the Reserve Bank of Australia has cut its interest rate from 0.75% to 0.5%. AUD/USD rallied on the news as the decision had been priced in.

AUD/JPY may fall further
AUD/JPY may fall further

AUD/JPY is in the downtrend since the start of the year. It was capped on the upside by all the three important moving averages on the D1.

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