The stock of Pepsico formed a kind of messy inverted “Head and Shoulders”.
Daily Market Analysis
The euro is fundamentally weak
AUD/CHF is trading within a long-term downtrend. Now there’s scope for a bullish correction.
Last week the stock of Alibaba rallied. The price moves close to the resistance line connecting April and July highs and the 100-week MA in the 175.00 area.
To gain the ability to head higher, towards 1.3445, USD/CAD needs to overcome 1.3355 (61.8% Fibo of the May-July decline).
EUR/CAD has tried to return above the previous support and now resistance line connecting the lows of 2015 and 2017.
USD/TRY met resistance near the line connecting 2019 highs in the 5.62 area. This is also where the 50-week MA is capping the price.
EUR/GBP may be about to make a bigger downside correction. The pair closed yesterday below the August support line and slipped below the weekly pivot point at 0.9250.
USD/MXN is quite used to sideways trading. Is it time to buy or sell?
Bitcoin has confirmed a top, closed below the 50-day MA at 10,921 yesterday and fell through all the key MAs on H4.
EUR/NZD met resistance in the 1.7570 area, at the line connecting the 2019 highs.
USD/CHF fell to the lowest levels in almost a year. The pair slid below the June low at 0.9695.