Daily Market Analysis

The stock of Pepsico formed a kind of messy inverted “Head and Shoulders”.

The euro is fundamentally weak

AUD/CHF is trading within a long-term downtrend. Now there’s scope for a bullish correction.

Technical analysis of EURJPY

Last week the stock of Alibaba rallied. The price moves close to the resistance line connecting April and July highs and the 100-week MA in the 175.00 area.

To gain the ability to head higher, towards 1.3445, USD/CAD needs to overcome 1.3355 (61.8% Fibo of the May-July decline).  

The economic calendar for the upcoming week contains a number of important events…

EUR/CAD has tried to return above the previous support and now resistance line connecting the lows of 2015 and 2017.

USD/TRY met resistance near the line connecting 2019 highs in the 5.62 area. This is also where the 50-week MA is capping the price.

EUR/GBP may be about to make a bigger downside correction. The pair closed yesterday below the August support line and slipped below the weekly pivot point at 0.9250.

USD/MXN is quite used to sideways trading. Is it time to buy or sell?

EUR/NZD met resistance in the 1.7570 area, at the line connecting the 2019 highs.