If we look at the weekly chart of AUD/CAD, it looks like the pair is forming a bullish “butterfly” harmonic pattern.
Daily Market Analysis
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.
The stock of Apple met the resistance of the line connecting 2018 and 2019 highs.
USD/SGD will likely run into resistance and turn down allowing to make a bearish trade.
The currency pair was long due for a correction. Last week’s candlestick on W1 is a “shooting star”.
EUR/USD met resistance at 1.1280 last week: the euro made 3 unsuccessful attempts to break higher.
EUR/CHF broke below 1.1150 - the lower border of the sideways range within which it has been trading since the middle of 2018.
NZD/JPY has performed well this month forming higher lows and highs. It was supported by the 50-day MA in July and took off from that level.
EUR/JPY broke the support line connecting June lows and thus resumed the downtrend which has been in place since the start of 2018.
EUR/AUD is currently testing the support line from the start of 2017.