The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
EUR/USD: 'Shooting Star' on 34 MA
The 34 Moving Average has acted as resistance, so there's a 'Shooting Star' pattern, which led to the current decline. However, there's also a bullish 'Engulfing', so the pair is likely going to test the nearest resistance at 1.1503. If a pullback from this level happens next, bears will probably try to reach the next support at 1.1401.
There're bullish patterns such a 'Tower' and an 'Inverted Hammer', which both have been confirmed. So, the market is likely going to test the 89 Moving Average shortly. A pullback from this line could be a starting point for another decline towards the lower 'Window' (1.1401).
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.