Daily Market Analysis

After its extensive decline last week, the USD can make a small comeback.

NZD/CHF is trading within a downtrend on D1. The currency pair went below 78.6% at 0.6450 and is likely to test levels around 0.6390/70.

EUR/GBP formed a candlestick with a long upper wick on W1. Daily Awesome Oscillator is going down.

CAD/JPY formed a “shooting star” candlestick on D1. This means that the pair will likely move down in line with the overall downtrend.

Have a look at the chart of EUR/AUD. There’s a bearish divergence between the price and the Awesome Oscillator on D1.

Oil prices rose on Thursday, June 20, as the US President Donald Trump criticized Iran’s attack on a US surveillance drone.

There’s a bullish divergence on the daily chart of GBP/USD.

The Japanese yen keeps strengthening versus other currencies as the market remains in the risk-averse mode.

AUD/USD has been falling since the start of 2018. On W1, the pair formed a “Falling three method” candlestick pattern.

USD/CAD is another pair that has the potential to make significant moves in the near term.

Last week USD/CHF broke below the uptrend support line of 2018.

CHF/JPY met the resistance of the declining 50-day MA and turned down. Its potential target lies at the support line connecting the lows of May in the 108.25 area.