Daily Market Analysis

The 144 Moving Average has acted as a resistance, so there’re a “Tower” and an “Engulfing” patterns, which both have been confirmed.

US stocks eased substantially after investors shifted to safe-haven assets on the rising US tensions with Russia, North Korea, and Syria…

The last “Wedge” has been broken, so the market is likely going to test the nearest resistance at 1.2595 – 1.2614.

Bulls went through the nearest support area, so we should keep an eye on the next resistance at 1.0698 – 1.0707.

On the daily chart of gold, the bulls updated February high and tested the diagonal resistance in the form of the upper boundary of the downward trading channel…

On the USD/CAD chart, a successful attack on the diagonal support in the form of the lower border of the upward trading channel activated the Gartley pattern with a target 78…

If I asked you who is the main stirrer-up of markets…

NZD/CAD reached sell target 0…

AUD/CAD reached sell target 0…

There’s a possible extension in wave (iii), so the market is likely going to decline in the short term.

The last bullish “Harami” doesn’t have a strong confirmation. In this case, the market is likely going to reach the closest resistance.

The nearest “Window” has acted as a resistance, so we’ve got a bearish “Shooting Star”.