Long-term and short-term analysis of the Australian dollar's performance against the US dollar.
EUR/USD: 34 Moving Average acted as resistance
The 34 Moving Average has acted as resistance, so the price is consolidating between the lower 'Window' and the Moving Averages. It's likely that the market is going to test the 55 Moving Average, which could be a departure point for a decline towards the next 'Window' (1.1287).
The Monday's 'Window' has acted as support many times, but the Moving Averages are acting as resistance, so the market is moving sideways. There's a bullish 'Engulfing' pattern, so we should watch the nearest resistance at 1.1363 as an intraday target.
A local flirting with the resistance or a serious intention to break through? We will examine the price action of GBP against CHF on high timeframes to answer this question.
The bearish bias appears to start losing power. The market reversal upwards is still to be confirmed.
S&P 500 was a gainer in 2019 with a rally of more than 25% so far. It seems like the index may show the best performance since 2013 and the third-strongest annual gain in 19 years.
An examination of how the US-China trade tensions have been influencing the USD/CNH and how to trade on it.
CNY/JPY is a good proxy for traders’ optimism. The technical setup for it is also quite interesting.