USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
EUR/USD broke lower
SELL 1.1030; TP 1.1000; SL 1.1040
EUR/USD has dived below support at 1.1100 and 1.1050 resuming the longer-term downtrend. The longer-term target seems to be at 1.0820 (78.6% Fibo of the 2016-2018 advance) after the pair settled below the 61.8% Fibo retracement at 1.1185. As for the near-term, the “Head and Shoulders” pattern implies that the targets are not yet reached - 1.1000 and 1.0950. The pair’s still not oversold.
The market is awaiting an increase in ISM Manufacturing PMI. The USD is strengthening as the Federal Reserve wasn’t as dovish as expected.
Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
Despite the uncertainties, MS sees some stocks continue beating their records. Check them out!
The British pound entered summer higher against USD and EUR. What’s the reason?
The USD/JPY is at the lower border of the 2-week channel. Will it be broken?