EUR/USD has turned up from the 50-day MA at 1.1715 yesterday. This is a sign that buyers are strong. Still, the short-term resistance line limits the upside at 1.1870.
USD/CAD: loonie aims for a break
2019-11-11 • Updated
TP1 1.2825 TP2 1.2805
On the daily chart of USD/CAD, bears launched an attack thanks to the formation of “Three Indians” and 1-2-3. A break of the diagonal support near 1.2925 will increase the odds of a “Bat” with a target at 88.6%. On the other hand, a pullback will allow bulls to counterattack.
On H1, USD/CAD keeps forming a “Bat” and AB=CD. When it reaches the convergence area of 1.2805-1.2825 (88.6% and 224% targets), there’s a high probability of a recovery.
USD/JPY is declining for the fifth day in a row. When the pair fell below 105.00, it entered a new, lower range.
The resistance line is limiting USD/JPY on the upside and, unless the pair tries for a breakout (which anyway will meet resistance at 106.50 and 106.80), the easiest path for it will be to go down.
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.
Boosted by positive vibes from the Brexit talks, the GBP goes all-out against the USD and the EUR. We'll see for how long.