Daily Market Analysis

It's likely that the price is going to test the nearest support at 1.1335 in the coming hours. If a pullback from this level happens next...

It's likely that the price is going to test the next resistance at 1.2725 - 1.2759 in the coming hours...

On the daily chart of USD/CHF, the return of the pair towards the resistance near the parity level (1.00), will push the pair towards the targets of the 5-0, "Wolfe Waves" and AB=CD patterns.

On the daily chart of USD/JPY, bears managed to reverse the uptrend due to the implementation of the "Three Indians" and "Spike and Ledge" patterns' combination.

On the daily chart of EUR/JPY, the implementation of the "Spike and Ledge" pattern, in particular, the fall of the pair below the lower border of the "ledge" between the 127.6 and 129.25 levels, made the pair reach the 88.6% target of the "Shark" pattern.

On the daily chart of GBP/USD, bulls try to push the pair back within the triangle's borders and implement the "Wolfe Waves" pattern.

GBP/NZD has been correcting up since the middle of December.

On the daily chart of USD/CAD, bulls managed to reach the 127.2% and 88.6% targets of the AB=CD and "Bat" patterns.

As long as XAU/USD is trading above 1235, it has a strong chance of strengthening to 1300 and 1320 in the medium term.

What will be the prevailing mood in 2019 and which assets will gain the most on the basis of it?

If a pullback from 1.1418 happens next, bears will probably try to reach the closest support at 1.1335...

It's likely that the price is going to test the next resistance at 1.2695 - 1.2725. If a pullback from this level happens next...