Daily Market Analysis

In-depth technical & fundamental analysis for currencies & commodities

 EUR/USD is under pressure
EUR/USD is under pressure

After EUR/USD broke the 1.1180/1.1070 range to the downside, it has been trading within the short-term downtrend.

USD/CAD may be capable of more
USD/CAD may be capable of more

USD/CAD firstly formed a bullish “engulfing” candlestick on the W1 and then confirmed the upside by the following strong bullish candlestick.

NZD/USD ahead of the RBNZ meeting
NZD/USD ahead of the RBNZ meeting

A bearish “engulfing” pattern was formed on the W1 chart of NZD/USD around the 38.2% Fibonacci retracement level of the July-October decline.

EUR/USD at the 3-weeks low
EUR/USD at the 3-weeks low

Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential

GBP/USD is near support
GBP/USD is near support

GBP/USD formed a lower high at the start of this month, pressured by the strong resistance in the 1.30 area.

USD/CNH returned below 7.00
USD/CNH returned below 7.00

USD/CNH has been steadily declining since the start of October on hopes that the United States and China would take steps towards some kind of a trade deal.

USD/CHF is waiting for something
USD/CHF is waiting for something

USD/CHF is supported by the 50-day MA at 0.9917. The doji candlestick that formed on the D1 yesterday signals the market uncertainty.

Keep an eye on EUR/NZD
Keep an eye on EUR/NZD

EUR/NZD formed a number of candlesticks with long lower wicks on the D1 - a sign that there’s demand for the euro around 1.7300.

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