Daily Market Analysis

There's a bullish 'Engulfing', so the market is likely going to test the 89 Moving Average...

On the daily chart, AUD/USD failed to rise above the upper border of the downtrend channel. Never the less, bulls are willing to repeat their attempt.

NZD/USD didn’t manage to return the pair to the 0.6710-0.6850 range from the first attempt and trigger “Shakeout-Fakeout” pattern.

It's likely to have a correction towards the nearest resistance at 1.3102. A pullback from this level could be a starting point for...

Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen but the lines are horizontal.

Bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen.

Recent tensions between the US and Canada about the North American free trade agreement (NAFTA) renegotiations as well as Brexit uncertainties brought weakness to the Canadian and British currencies…

It's likely that the pair is going to test the next support at 1.3025 - 1.3004 in the coming hours...

On the daily chart, if EUR/GBP falls to September low and breaks below the middle of the 0.87-0.902 channel will trigger a “Shakeout-Fakeout” pattern.

On the daily chart, EUR/USD was forming a “Shakeout-Fakeout” pattern dueing the 2 consecutive months.

It's likely that the market is going to test the nearest support at 1.1662, which could be a starting point for another bullish rally...

On the daily chart for EUR/JPY the “Broadening wage” pattern was activated. The update of September maximum will allow bulls to continue moving towards target at 88.6% following the “Bat” pattern.