EUR/USD has turned up from the 50-day MA at 1.1715 yesterday. This is a sign that buyers are strong. Still, the short-term resistance line limits the upside at 1.1870.
EUR/JPY: bulls counterattacked
TP1 128.45 TP2 128.65 TP3 129
On the daily chart, EUR/JPY pulled back to 50% of the wave CD after reaching 88.6% target of the “Bat”. The pair may retest the diagonal support in the form of the upper border of the downtrend channel.
On H1, EUR/JPY bulls keep moving to 88.6% target of the “Shark”. It’s located at 129. A pullback from the lower border of the uptrend channel and support at 127.65 will allow the euro to continue the attack.
EUR/USD is supported around 1.1750. However, the pair has already fallen below the summer support line. We’ll view buy trades only when the pair returns above 1.1800.
The NZD/JPY pair is trading within the cloud. A failed attempt to move higher will push the market to exit the Kumo, confirming a bearish scenario.
Gold is steadily plummeting for the third consecutive day. Where is the bottom? Let’s find out.
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