USD/CAD formed a “gravestone doji” candlestick on the W1 ahead of the 50-week MA (1.3280). Learn more!
EUR/USD is hunting bats
TP1 1.1715 TP2 1.1790 TP3 1.1910
On the daily chart, EUR/USD keeps consolidating in the 1.1515-1.1815 range. Bulls keep hoping to form a “Dragon” and a “Crab”. To do it, they will need to lead the pair out of the downtrend channel, push it above resistance at на 1.1755 and then renew July high.
On H1, if EUR/USD reaches 88.6% target of a “Bat”, it will allow locating support. A pullback from it will create the ground for long positions.
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.
The US dollar is currently in a correction, but is likely to continue the trend down.
The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?