Daily Market Analysis

The price is likely going to test the closest resistance at 1.1416. The subsequent pullback from this area could lead to a decline...

The main intraday target is the closest resistance area at 1.2695 - 1.2725. If a pullback from these levels happens next...

USD/ZAR recoiled down from the resistance line connecting October highs and slipped under the daily moving averages.

On the daily chart of USD/JPY, the triangle and "Spike and Ledge" patterns based on 1-2-3 are implemented.

On the daily chart of EUR/JPY, the consolidation as a part of the "Broadening Wedge" and "Shark" patterns' implementation continues.

Last week turned out to be disappointing for the AUD bulls, despite the gap up opening on Monday after the negotiations between the Chinese and US presidents.  What are the reasons behind this slide?

If a pullback from the nearest resistance happens next, bears are likely going to test the next support at 1.1283...

We should watch the nearest resistance at 1.2588 as an intraday target...

On the daily chart of GBP/USD, bears managed to break the support at 1.27 and move the pair out of the triangle.

On the daily chart of USD/CHF, there is a transformation of the “Shark” pattern into 5-0.

EUR/USD is still supported by the 200-week MA at 1.1310. The pair came to the support line connecting November lows for the third time

USD/CAD has reached resistance of June highs around 1.3386. It briefly tested levels above this point, but then returned lower.