Daily Market Analysis

In-depth technical & fundamental analysis for currencies & commodities

GBP/USD: "Flag" led to decline
GBP/USD: "Flag" led to decline

There’s a “Double Top”, which has been confirmed, so the uptrend was broken. The 55 Moving Average is acting as a support.

EUR/USD: bearish "Pennant"
EUR/USD: bearish "Pennant"

The price is moving in a range between the levels 1.0678 – 1.0639. Also, there’s a “Pennant” pattern, so bears are likely going to test a support at 1.0600 – 1.0594.

EUR/USD: bullish "Thorn"
EUR/USD: bullish "Thorn"

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

USD/JPY: bearish "Doji"
USD/JPY: bearish "Doji"

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.

EUR/USD: bearish "Three Methods"
EUR/USD: bearish "Three Methods"

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

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