Daily Market Analysis

In-depth technical & fundamental analysis for currencies & commodities

EUR/USD: bullish intentions
EUR/USD: bullish intentions

The recent initiative for a $546-bln financial aid package in the Eurozone made the EUR/USD break local resistance. How much fuel does it have?

GBP/AUD: the downtrend is in place
GBP/AUD: the downtrend is in place

GBP/AUD opened the week with a gap down. Things like that have already happened before and, back then, the price continued its way down.

GBP/CHF: choose a level for selling
GBP/CHF: choose a level for selling

GBP/CHF slipped below the 50-day MA this week. The line is currently acting as resistance at 1.1905. Earlier declines below it led to bigger moves down.

USD/JPY tested support
USD/JPY tested support

USD/JPY has returned below the 50-day MA as the market’s risk aversion increased. It seems that the market has formed an interim top.

EUR/USD rebounded from support
EUR/USD rebounded from support

EUR/USD recovered from the March-April support line and formed a “Piercing line” candlestick pattern on the D1.

AUD/NZD formed a top
AUD/NZD formed a top

AUD/NZD formed a “shooting star” candlestick on the W1. The pair ran into the resistance line from the 2018 highs and failed to close above the 200-week MA at 1.0650.

GBP/AUD: bearish reversal
GBP/AUD: bearish reversal

GBP/AUD has breached the support line from August 2019. What is happening at the chart looks like a pretty big change.

Technical levels for GBP/USD
Technical levels for GBP/USD

The movement in GBP/USD hasn’t started yet, but it surely will. For now the pair’s consolidating in the 1.2390/1.2295 area.

NZD/USD is pulling down
NZD/USD is pulling down

NZD/USD may be on the verge of breaking to lower levels. The pair formed a doji candlestick with a long upper shadow on the D1 - this is a bearish sign.

EUR/USD has breached support
EUR/USD has breached support

EUR/USD had been testing the support line connecting March and April lows. On Thursday, the pair slipped below this line.

GBP: three factors
GBP: three factors

Britain is at the crossroads of the virus fight. What is the outlook for the GBP/USD?

Bears keep playing with oil
Bears keep playing with oil

Oil prices remain under pressure. After Brent has broken the consolidation range to the downside and fell below 30.00, it got some support ahead of 27.00.

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