EUR/USD and GBP/USD Start a New Week With a Bearish Correction

Today is Labor Day in the US and Canada, so traders from North America aren’t active, which could lead to lower volatility.

The SP500 is in an ascending triangle pattern looking north.

The DAX has come back above major supports. That was a false breakout, which may result with a proper upswing.

Gold is in a correcting movement since Friday but still in positive territory.

The EURUSD started the new week with a drop. That’s thanks to the shooting star from Friday.

The GBPUSD is aiming at the lower line of the flag, it’s time to test it as a support again.

The AUDCAD is continuing the upswing despite a very pessimistic candle on Thursday.

The EURNZD broke the crucial horizontal support along with the lower line of the flag. That is a very negative sign.

For a look at all of today’s economic events, check out our economic calendar.