The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
EUR/USD: 'Rising Wedge' pattern
It's likely that we're going to have a 'Rising Wedge' pattern on EURUSD. So, we should keep an eye on the 89 Moving Average, which could act as support. If it happens, there'll be an opportunity to have an upward price movement towards the next resistance area at 1.2377 - 1.2395.
The pair is consolidating above the Moving Averages. The main intraday target is the nearest support at 1.2346 - 1.2335. A pullback from these levels could be a departure point for an upward price movement in the direction of another resistance at 1.2377 - 1.2399.
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.