Daily Market Analysis

On the daily chart, NZD/USD made several attempts to bring the quotes outside of the descending channel but failed…

There’s a “Double Bottom”, which has been confirmed. Therefore, the pair is likely going to reach the nearest resistance at 1.2595 – 1.2614.

All Moving Averages have been broken, so bears achieved a support at 1.0639, which pushed the price to a resistance at 1.0678.

Trade scenarios for EUR/USD, AUD/USD and USD/CAD based on key option levels.

The 55 Moving Average acted as a resistance, so we’ve got a “Doji” on this line. Considering a confirmation of this pattern, the market is likely going to test the nearest support.

The pair has been declining since a “Harami” was formed at the last high. Also, there’s a developing “Three Methods” pattern.

Trade scenarios for EUR/USD, GBP/USD and USD/CAD based on key option levels.

The price met a support at 1.2382, so the market is consolidating on the one-hour chart. Meanwhile, bears are likely going to continue pushing the pair even lower.

Bears reached a support at 1.0678, so the price is consolidating. Therefore, the market is likely going to test the next support at 1.0655 – 1.0594 in the short term.

We’ve got wave v of (i), so there’s time for wave (ii). The main bullish target is 5/8 MM level, which could be a departure point for another bearish wave.

We’ve got a “Tweezers” and an “Engulfing”, which both have been confirmed.

EUR/CAD reversed from resistance zone Next sell targets - 1…