Will EURGBP continue its movement up?
Daily Market Analysis
The stock of Pepsico formed a kind of messy inverted “Head and Shoulders”.
The euro is fundamentally weak
AUD/CHF is trading within a long-term downtrend. Now there’s scope for a bullish correction.
Technical analysis of EURJPY
Last week the stock of Alibaba rallied. The price moves close to the resistance line connecting April and July highs and the 100-week MA in the 175.00 area.
To gain the ability to head higher, towards 1.3445, USD/CAD needs to overcome 1.3355 (61.8% Fibo of the May-July decline).
The economic calendar for the upcoming week contains a number of important events…
EUR/CAD has tried to return above the previous support and now resistance line connecting the lows of 2015 and 2017.
USD/TRY met resistance near the line connecting 2019 highs in the 5.62 area. This is also where the 50-week MA is capping the price.
EUR/GBP may be about to make a bigger downside correction. The pair closed yesterday below the August support line and slipped below the weekly pivot point at 0.9250.
USD/MXN is quite used to sideways trading. Is it time to buy or sell?