Daily Market Analysis

In-depth technical & fundamental analysis for currencies & commodities

Trade opportunities in EUR/AUD
Trade opportunities in EUR/AUD

EUR/AUD formed a candlestick with a long upper shadow on the D1. The pair is currently testing levels below the 50- and the 100-period moving averages.

XAU/USD: how about a buy trade?
XAU/USD: how about a buy trade?

XAU/USD formed a “hammer” candlestick on the D1 ahead of the 100-day MA. The price made a higher low on the H4 and now only the resistance at $1 877 separates the precious metal from further gains.

Levels to trade EUR/USD
Levels to trade EUR/USD

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/JPY: selling may continue
USD/JPY: selling may continue

USD/JPY is declining for the fifth day in a row. When the pair fell below 105.00, it entered a new, lower range.

USD/JPY: target for selling
USD/JPY: target for selling

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.

EUR/USD looks ready for more downside
EUR/USD looks ready for more downside

EUR/USD is supported around 1.1750. However, the pair has already fallen below the summer support line. We’ll view buy trades only when the pair returns above 1.1800.

USD/JPY: is here a pattern?
USD/JPY: is here a pattern?

Price action in USD/JPY is in line with the bearish harmonic pattern “Gartley”. The pair has approached resistance at 106.88 (descending 50-day MA).

USD Regains Strenght
USD Regains Strenght

Looking ahead, highlights from macroeconomic calendar include EZ Sentiment Index and Fed’s Evans speech who is a Fed non-voter. Rise in US-China tensions (WeChat specifically) sends US dollar higher.

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