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/NZD: the short-term downtrend
SELL 1.7205; TP 1.7150; SL 1.7225
EUR/NZD declined last week. Actually, the pair has been descending since the middle of October when it recoiled down from the resistance line connecting 2015 and 2018 highs in the 1.7660 area. Currently, the pair’s trading around the 100-day MA in the 1.7240 zone. The price has been consolidating around it during the past week, the consolidation has got the shape of a triangle. On the H4, the moving averages are in the negative order providing substantial resistance around 1.7335 and 1.7385. The decline below the Wednesday’s low at 1.7210 will let the short-term downtrend continue at least until 1.7145 (Nov. 13 low). The next level to watch on the downside will be at 1.7030 (200-day MA).
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…
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