USD/CAD is recovering
Last week, USD/CAD held above the strong daily support level.
EUR/AUD broke pivotal resistance level 1.4650
- EUR/AUD broke pivotal resistance level 1.4650
- Next buy target - 1.4900
EUR/AUD continues to rise inside the sharp minor impulse wave 3 - which previously broke the pivotal resistance level 1.4650 (which stopped earlier waves (4) and (i), as can be seen from the daily EUR/AUD chart below). The breakout of the resistance level 1.4650 accelerated the active minor impulse wave 3, which belongs to the sharp intermediate (C)-wave from the end of March.
EUR/AUD is expected to rise further in the direction of the next buy target at the next resistance level 1.4900 (which stopped the previous minor B-wave in last November).
Dmitry Chernovolov
Similar
Gold will continue to consolidate
On the daily chart, we expect the price of gold to fluctuate sideways within the Symmetrical Triangle with resistance and support marked by the blue line.
EUR/USD: bearish 'Engulfing' pattern
The market is likely going to test the nearest support at 1.1730. If a pullback from this level forms next, bulls will probably try to...
Latest news
GBP/USD: confirmed "Thorn" pattern
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF: time to correct?
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
EUR/USD: "Tweezers" on 34 Moving Average
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...
Deposit with your local payment systems
