AUD/JPY is in the downtrend since the start of the year. It was capped on the upside by all the three important moving averages on the D1.
Daily Market Analysis
The recovery of WTI last week met resistance in the 54.60 area. The price formed a gap down on the mounting fears about the coronavirus.
Currently, the precious metal trades in the zone of 7-year highs. How far away is the all-time high?
The volatility in USD/MXN has jumped. The pair is correcting up within the downtrend, which has been in place since September.
GBP/USD had been rejected down from the 200-week MA in the 1.3033 area. Then it fell below the 100-week line at 1.2950.
NZD/USD has once again found support in the 0.6830 area. The price action on the H1 chart strongly resembles an inverted “Head and Shoulders” pattern.
Coronavirus keeps disturbing China, and the world. Consequently, gold keeps rising. Reaching $1,600 is "if" or "when"?
WTI oil has reached our previous targets. On the W1, a big bullish candlestick engulfed the previous bearish one.
EUR/NZD formed a “hanging man” pattern on the W1 and went down to trade below the 100- and 50-week MAs.
WTI oil has found support in the 49.35 area for the second time this February.
AUD/CHF formed a higher low on the H1. The pair may be forming something like a “Crab” harmonic pattern.
NZD/USD has met the resistance of the 200-day MA earlier this week (0.6500) and closed below the 100-day MA (0.6460) on Thursday.