Despite the fact that EUR/USD fell as low as to 1.1025, it still managed to close the week above 1.11.
Daily Market Analysis
Facebook's stock formed a bearish “shooting star” candlestick on the monthly chart.
Japanese yen has broadly strengthened as the demand for it as a safe haven increased.
EUR/GBP has so far been one of the most volatile currency pairs. It rose to 2-year highs and the ascent was fast.
USD/ZAR rebounded from the 200-day MA at 14.18 and went up through the 100- and 50-day MAs.
EUR/USD has dived below support at 1.1100 and 1.1050.
USD/JPY consolidated between 108.40 and 108.95 ahead of the Federal Reserve’s meeting later today.
NZD/USD has turned down on July 22 and retraced more than 38.2% of the June-July advance.
If we look at the weekly chart of AUD/CAD, it looks like the pair is forming a bullish “butterfly” harmonic pattern.
EUR/AUD formed a “bullish engulfing pattern” on W1. Notice that this happened at the support line from the 2017 lows.
USD/CHF shot up last week from the 200- and 100-week MAs in the 0.9840/50 area.
AUD/USD closed below the 50-day MA at 0.6958 and the line connecting June and July lows.