GBP/USD formed a lower high at the start of this month, pressured by the strong resistance in the 1.30 area.
Daily Market Analysis
Despite the overall positive sentiment for stocks, the stock of PepsiCo has experienced a substantial decline this week.
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.
Technical analysis of the USD/CAD
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.
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.
Walt Disney will release its financial results on Thursday, November 7. Let’s have a look at the fundamental and technical picture for this stock.
USD/TRY has broken above the descending wedge. It is currently testing levels above the 50-day MA at 5.7372.
XAU/USD ran into the resistance area around $1,515 which has been limiting the upside since the start of October - gold hasn’t closed above this level on the D1.
Technical analysis of USD/CHF
Find out what awaits the major currencies this month: Brexit, trade war, central bank meetings and more.
EUR/CAD strengthened last week but ran into the resistance of the 100-day MA around 1.4675.