The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
EUR/USD: 144 MA acted as resistance once again
The 144 Moving Average has acted as resistance once again, so there's a 'Shooting Star' pattern. In this case, the pair is likely going to test the nearest support at 1.1690. A pullback from this level could be a departure point for another upward price movement towards the next resistance at 1.1787.
There's a 'High Wave' pattern, which has been formed on the upper 'Window'. So, it's time for a downward correction. The main intraday target is the 89 Moving Average (1.1690), which could be a starting point for a bullish price movement.
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
It looks like GBP/JPY is finally trying to break out of the recent consolidation. Learn more!
Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.
GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.