Daily Market Analysis

An important meeting will happen at 14:00 MT on Thursday: the Bank of England will announce its official rate…

On the daily chart, bulls are trying to bring GBP/USD outside of the 1.2785-1.3050 consolidation range. It was formed in line with a “Spike and ledge”.

On the daily chart, USD/CAD is fighting for an important level of 23.6% of the long-term wave.

Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen.

Expanding bearish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.

We should keep an eye on the nearest significant support at 1.1505 as an intraday target...

A pullback from 1.3102 - 1.3143 could be a starting point for a decline towards the closest support...

USD/CAD is fighting for the initiative near the correction high of the “Shark” pattern.

On the daily chart, XAU/USD bulls are still hoping to form a “Crab” with a 161.8% target. To begin with, they need to conquer 1209 (23.8% of the bearish wave).

Bullish Ichimoku Cloud but horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen but the lines are horizontal.

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines and narrow channel of Tenkan-Kijun.

We could have a local correction in the short term. So, if a pullback from the 34 Moving Average happens little later on...