The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
EUR/USD: primary trend is still bearish
The primary trend is still bearish. Also, there's 'V-Top', which has been formed under the 34 Moving Average. So, the pair is likely going to reach the nearest support at 1.1365. A pullback from this level could be a starting point for another upward price movement towards the 55 Moving Average.
The 55 and 34 Moving Averages are acting as support, so we've got a 'V-Bottom' pattern. In this case, we should keep an eye on the next resistance at 1.1478. If a pullback from this level forms little later on, there'll be a moment to have a bearish correction.
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.