GBP/USD is having a third bullish week in a row.
Daily Market Analysis
AUD/USD made another attempt to close below the 50-day MA at 0.6845 and this time it was successful.
EUR/AUD formed a "hammer" candlestick on the W1, above the 50-week MA in the 1.6010 area.
USD/TRY formed a bullish gap on the D1. It happened on the increase in the market’s risk aversion.
USD/ZAR is capable of more downside on the ongoing trade optimism and as the market’s view switches to the Federal Reserve’s meeting later this month.
EUR/USD spiked down to the September low in the 1.0930 but failed to stay there and closed around 1.1060 on Thursday.
When looking for pairs to trade to benefit from today’s meeting of the European Central Bank, pay attention to EUR/NZD
CHF/JPY formed a “bullish engulfing” pattern on the W1.
The move above 1,496 and the psychological level of 1,500 will trigger a bullish scenario for XAU/USD.
The technical setup for GBP/USD allows expecting a rebound but it has to rise above the resistance first.
On Monday, AUD/CHF broke above the line connecting April and July highs at 0.6785 and managed to close the day above it.
Last week USD/CAD was rejected on the upside: the pair failed to settle above 1.3350.