U.S. stock markets opened higher on Monday, buoyed by hopes for a last-minute agreement on a comprehensive fiscal stimulus package before the elections on November 3.
GBP/AUD is leaning down
2019-11-11 • Updated
SELL 1.8700; TP 1.8640; SL 1.8720
On October 16, GBP/AUD met resistance in the 1.9090 area (resistance line from March highs). Since then, the pair has been consolidating with a bearish bias. On the D1, the price is far above the MAs. This makes the pound vulnerable for a decline to 1.8635 (100-period MA on the H4). The move down will be triggered in case of the decline below 1.8705 (38.2% Fibo retracement of the October advance). Bulls need to push the price above 1.8840 to get a chance to return to the 1.90 area.
EUR/AUD formed a candlestick with a long upper shadow on the D1. The pair is currently testing levels below the 50- and the 100-period moving averages.
The NZD/JPY pair is now poised to exit the Kumo. If that happens, the currency pair will enter into a new bearish sentiment.
The Kiwi has been losing value against the US dollar. Where does it go?
CHF/JPY retraced 61.8% of its August-September decline, corrected down, formed a higher low above the 100-day MA and now seems eager to rise to the 78.6% Fibonacci level at 116.90.
European stock markets are seen opening a little lower Tuesday, weighed by weakness on Wall Street as time begins to run out on a new U.S. stimulus package