EUR/USD will likely trade within the range in stayed in yesterday. The 100-period MA on the H4 (1.1225) supports the pair.
USD/CAD faces some difficulties
SELL 1.3190; TP1 1.3160; TP2 1.3130; SL 1.3205
USD/CAD formed a “gravestone doji” candlestick on the W1 ahead of the 50-week MA (1.3280). This is a bearish pattern, so the odds are that the pair will test lower levels. On the D1, the upside was limited by the 200-day MA, which is usually quite a strong obstacle. The price went below the October-November support line. For now, it still has the support of the 100-day MA in the 1.32 area. A decline below this point, however, will open the way down to 1.3160 and 1.3130. Resistance lies at 1.3225.
USD/CHF has made an impressive movement to the downside. The pair has closed on Wednesday below the 61.8% Fibonacci retracement in the 0.9455 area.
On the D1 chart of GBP/USD the price action conforms to the bearish “Crab” pattern.
Risk-on pushed stocks and riskier currencies upward.
It’s simply the question of time before gold price gets to the higher levels…
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