Daily Market Analysis

On the daily chart, XAU/USD keeps forming patterns 5-0 and a “Widening wedge”. The pair is moving towards a convergence area of 1,244-1,250 (50% correction of the last long-term bullish wave)…

Narrowing bearish Ichimoku Cloud with horizontal Senkou Span A and B; a new golden cross of Tenkan-sen and Kijun-sen.

Bearish Ichimoku Cloud, but rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with rising lines.

EUR/CAD broke resistance zone Next buy target - 1…

USD/JPY reversed from resistance area Next sell target - 109…

The US dollar index is trading near the psychological level at $94.

We should keep an eye on the nearest resistance at 109.66 as an intraday target for USDJPY...

It's likely that the price is going to test the nearest resistance at 1.1704, which could be a starting point for another decline...

There's a local 'V-Top' pattern, so the market is likely going to test the nearest support at 1.3203 - 1.3177...

The main intraday target is the next resistance at 1.1710. A pullback from this level could be a departure point for...

On the daily chart, AUD/USD is forming 5-0 and AB=CD patterns. After reaching an interim target at 127.2% of the latter, there was a natural pullback. Bears keep hoping to reach 161.8% target.

On the daily chart of NZD/USD, a pin bar let bulls to counterattack. They are trying to form a double bottom and return the situation under control.