EUR/GBP continues trading within an uptrend. The pair has managed to break above 0.9000 (38.2% Fibonacci retracement of the March-April decline) which now acts as support.
EUR/CAD is ready for a move
BUY 1.4730; TP 1.4830; SL 1.4710
SELL 1.4690; TP 1.4650; SL 1.4705
EUR/CAD has formed a couple of higher lows since October. The pair has managed to overcome the 50- and the 100-day MAs at 1.4588 and 1.4640 respectively. It approached the highs of September and October in the 1.4720 area. A break above this resistance zone will lead the price to a higher range and open the way up to 1.4835/55 (200-day MA, 200-week MA). On the downside, a return below 1.4700 will open the way down to 1.4640. The pair may experience volatility on Wednesday due to the release of inflation figures in Canada at 15:30 MT time.
EUR/USD will likely trade within the range in stayed in yesterday. The 100-period MA on the H4 (1.1225) supports the pair.
EUR/JPY reversed down at the 200-week MA around 124.45. The pair became really overbought and formed a reversal pattern on the D1.
Risk-on pushed stocks and riskier currencies upward.
It’s simply the question of time before gold price gets to the higher levels…
Coronavirus and massive oil oversupply was a once-in-a-generation coincidence. Is the worst over?