Daily Market Analysis

On the W1, Brent oil formed a bullish “hammer”…

USD/CHF formed a “hammer” candlestick on the D1. The most recent price low wasn’t confirmed by the Awesome Oscillator on this timeframe.

NZD/CHF fell this week as the Swiss franc appreciated versus other currencies. However, the positive market sentiment related to the US-China trade deal helped the pair to find support in the 0.6355 area.

AUD/JPY has been recovering from the 74.00 area since the start of January, but met resistance in the 76.00 area.

EUR/JPY is enjoying the medium-term uptrend since the start of September. The pair’s currently trading above the 50-week MA (121.66) and above December highs (122.50).

Last week GBP/USD has failed to stay above the 200-week MA (1.3065) for the second time.

EUR/GBP formed a candlestick with a long lower wick on the MN chart – a sign of reversal to the upside…

The US dollar had a strong week versus the Japanese yen. USD/JPY opened with a gap down on the W1, but is now trading above the highs of the previous week.

The advance of gold (XAU/USD) this week has been too rapid. The precious metal got overbought.

If you look on the weekly chart of GBP/JPY. You will see that the pair has ran into resistance of the 200- and 100-week MAs.

On the H1, you can see that EUR/USD formed an inverted “Head and Shoulders” pattern.

Market sentiment has worsened on the news about the conflict between the United States and Iran. One of the ways to trade in this environment is to sell NZD/USD.