Currencies
updated on 07-DEC-2019
EUR/USD
After more than 2 years in a trading range, the EUR/USD broke out and reached its Fibonacci extension target. The price then broke down and back into the aforementioned trading range. This breakout/break-down created a head and shoulder pattern with a derived price target near 1.05, which coincides with the 2015-2017 trading range support area. As long as the price stays beneath the 1.13 level, the EUR/USD is in a downtrend.
USD/JPY
Since the lows in 2013, and the highs in 2015, the USDJPY has formed a symmetrical triangle. The pair is now getting close to its apex and a breakout or breakdown will dictate the next trend.
GBP/USD
Trend: sideways
Resistance: 1.3170, 1.3475
Support: 1.2880
AUD/USD
Trend: down
Resistance: 40-week moving average (~0.6915)
Support: 0.6750, 0.6670
USD/CAD
After being in an uptrend channel (green) for 16 months, the trend reversed, since end-December 2018, to a slow downtrend channel (yellow). Nothing majorly interesting in this pair at the moment.
USD/CHF
Trend: sideways
Resistance: 1.0020, 1.0250
Support: 0.9700, 0.9500, 0.9200