Long-term and short-term analysis of the Australian dollar's performance against the US dollar.
EUR/USD: price reached the lower 'Window'
The price has reached the lower 'Window', but there's no any reversal pattern so far. It seems like we're going to have a 'Hammer' pattern shortly. If so, there'll be time for an upward correction towards the nearest resistance by the 'Three Methods' pattern (1.1367). The subsequent pullback from this level could lead to a decline.
It's likely that we're going to have a bullish 'Engulfing' pattern soon because there's a pullback from the lower 'Window'. In this case, we should watch the closest resistance at 1.1367 as a possible departure point for another decline towards the next support at 1.1298.
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.