EUR/CAD may get down to the bottom of the September sideways channel if bears keep pressing.
Daily Market Analysis
Lagarde pushed the euro to the downside, while US debates underpinned the USD.
Asian shares crept higher on Wednesday after data showed China's economic recovery gathering steam, but a chaotic first U.S. presidential debate between President Donald Trump and Democrat Joe Biden weighed on the mood.
USD/JPY has been rising for almost a week except for Monday, but the strong resistance of the 50-day moving average at 105.80 may stop it from moving higher.
BoA released the report with the bullish forecast for the S&P 500 and shared its technical analysis. Let's discuss it in detail.
EUR/USD has violated the first resistance trendline area 1.1680
European shares slipped on Tuesday as investors awaited the first U.S. presidential debate and eyed progress of a fiscal stimulus package in Washington
EUR/USD has violated the pivot point and stands next to the resistance area 1.1680
EV batteries need lithium. Tesla needs lithium. Now, it's going to have that as much as required.
So the pound went all-in bullish yesterday on Brexit hopes. While these hopes still have to manifest, the GBP will have to defend its positions now.
AUD/JPY is now testing the key resistance at 74.600. Jump in for the fresh analysis!
GBP/USD is trading above the key pivot point level. Further bullish momentum will trigger the market to 1.2940.