EUR/USD: the pair is inside the wedge
On the daily chart of EUR/USD, there is a transformation of the "Shark" pattern into 5-0.
Daily Market Analysis
In-depth technical & fundamental analysis for currencies & commodities
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 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 has already substantially declined last week forming a big engulfing candlestick on W1.
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
On the daily chart of USD/JPY, the triangle and "Spike and Ledge" patterns based on 1-2-3 are implemented.
Bitcoin: trade on the breakout
Bitcoin is consolidating within a symmetric triangle. A boost in volatility is about to take place.
EUR/JPY: the pair plans its further movements
On the daily chart of EUR/JPY, the consolidation as a part of the "Broadening Wedge" and "Shark" patterns' implementation continues.
GBP/USD: the pound is moving down
On the daily chart of GBP/USD, bears managed to break the support at 1.27 and move the pair out of the triangle.
USD/CHF: the franc is weak
On the daily chart of USD/CHF, there is a transformation of the “Shark” pattern into 5-0.
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 has reached resistance of June highs around 1.3386. It briefly tested levels above this point, but then returned lower.
