Friday, February 26, 2021
After updating its six-week high, EURUSD is correcting.
USDCAD is rebounding from the descending channel’s upside border; CADJPY is testing Tenkan-Sen and Kijun-Sen, while USDCHF is about to resume growing.
USDCAD is still rebounding from the support level; AUDUSD is testing the channel’s downside border, while USDCHF continues trading upwards.
Brent may correct towards 4/8, while the S&P 500 index is expected to fall and reach 0/8 after changing the tendency.
After finishing the correction at 3936.1, the S&P index is falling to break 3810.0.
Thursday, February 25, 2021
After updating the high once again, GBPUSD is consolidating at the top.
AUDUSD continues growing to reach 0.8292, while USDCAD is heading towards the fractal low after breaking 76.0% fibo.
XAUUSD is falling within the descending channel; EURJPY is boosting the current trend, while USDPLN is correcting before a strong decline.
GOLD continues rebounding from the support area; NZDUSD is correcting within the uptrend, while GBPUSD continues trading upwards.
USDCHF is trading within the “overbought area”, while XAUUSD is still expected to fall towards 0/8.
Gold is still falling towards 1779.27 and may later start a new growth to reach 1796.85.
EURUSD found a reason to grow and intends to keep its positive momentum on Thursday.
Wednesday, February 24, 2021
EURUSD has reached stability by Wednesday and is waiting for new catalysts to get stronger.
GBPUSD has easily broken 1.40 and continues moving upwards, while EURJPY is approaching the long-term 61.8% fibo at 128.68.
NZDUSD is growing within the rising channel; USDJPY is correcting and forming a Head & Shoulders pattern, while USDRUB is about to break an important support area.
EURUSD continues testing the resistance level; USDJPY is forming another rising wave, while EURGBP is testing another support level.
USDJPY has completed the correction and may resume growing; in the case of USDCAD, the price is expected to drop to 1/8.
After completing the descending structure at 104.92, USDJPY has returned to 105.38; right now, it is consolidating around the latter level.