Daily Market Analysis

USD/JPY dropped to 108…

There’s a “Double Top”, so the price reached the 34 Moving Average. Therefore, bears are likely going to reach a support at 1.2477 – 1.2469.

The main trend is still bearish. There’s a “Double Top” pattern, so the price is still under the Moving Averages.

On the EUR/USD daily chart, quotes returned to the border of the upward trading channel…

On the NZD/USD daily chart, quotes are moving within the downward trading channel…

All major forex centers are closed today for the Good Friday holiday…

Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen, the lines are horizontal; the prices are entered into the Cloud and growing to upper border – Senkou Span B.

Narrowing bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, the lines are horizontal; the prices are under the bottom border of the Cloud.

AUD/USD reversed from support zone Next buy target - 0…

EUR/AUD reversed from combined resistance zone Next sell target - 1…

There’s a possible flat pattern in wave (ii). Previously, wave (i) has been formed, so the market is likely going to deliver wave (iii) in the short term.

We’ve got a “High Wave” and a “Doji”, so the pair is likely going to test the nearest resistance.