The market always lives by expectations…
Daily Market Analysis
Have a look at the chart of CHF/JPY. The pair found support at the early September lows in the 106.85 area.
Technically WTI is testing levels below the 200-week MA. This makes it vulnerable for the retest of June and August lows.
America will release more economic figures on Tuesday and Friday, and USD/JPY should be one of the most active movers on the news.
The USD has been steady versus a basket of major currencies since the start of 2019 but suffered this week. So, what future awaits it?
EUR/JPY remains within the general downtrend and looks like it’s ready for another swing lower.
Times are quite turbulent for the British pound. GBP/CAD has already retraced down 61.8% of the August-September advance.
USD/JPY has been slowly moving higher during the recent days and approached September highs in the 108.47 area.
AUD/NZD has once again turned down from 1.0800 as the AUD got hit by the RBA’s decision to cut its interest rate.
XAU/USD formed a lower high at 1,535 after rising to 1,557 at the beginning of September.
Last week, EUR/GBP recovered from 0.8800 (the 61.8% Fibo retracement of the March-August advance) and 0.8835 (100- and 50-week MAs; 200-day MA).
Last week GBP/CHF topped at 1.2475 as it met the previous support and now resistance line connecting the 2016 and 2018 lows.