EUR/AUD Bounce at the MEGATREND Moving Averages

EUR/AUD Technical Analysis

  • EUR/AUD Inside outside pattern bounce
  • The move is bullish
  • Intraday target is 1.4970 zone
  • Potential swing target os 1.5230
  • The ATR is 132 pips

MEGATREND MAs: Bullish

D1 Chart EUR/AUD

  1. Double top valley
  2. Low prior to V shaped reversal
  3. Bounce above the MAs – IO pattern ™
  4. Intraday target
  5. Swing target

The EUR/AUD is bullish and the price is trying to get the upside momentum so it could continue climbing back up. At this point we can see that the price is trying to reach Q L5 resistance – 1.5015. However it will need more EUR strength vs AUD weakness.

The IO pattern is my proprietary pattern that I teach on my MEGATREND course. It represents the bounce off the MAs with the close above the MAs happening at the same candles. It is validated also by the specific wick which signifies strong buyers. 1.4830-50 is the entry zone.

Being a minor cross I recommend trading it with lower risk. The ATR for the last 14 days is 132 which indicates a volatile market. Intraday target is 1.4970 zone while the swing target is 1.5230. Swing target will only be reached if the price proceeds above 1.5015 and EUR fundamentals are stronger than the AUD.

This analysis, the IO trade and all entry signals and targets are a part of the Megatrend system and a trading course. I am maintaining 1 long trade on the EUR/AUD.

Cheers and safe trading,

Nenad

Trade Of The Week: Can ECB Hawks Rescue Euro Bulls?

Our focus falls on the European Central Bank (ECB) which is expected to unleash a monetary bazooka in the form of a 75-basis point rate increase! Such a move will place the ECB among the ranks of 40+ central banks that have increased rates by 75bp or more in one go this year in the face of soaring inflation.

Before we take a deep dive into what to expect from the ECB meeting on Thursday, it is worth keeping in mind that the Eurozone economy remains vulnerable and faces the growing risk of recession. The unsavoury combination of ongoing geopolitical tensions, untamed inflation, and energy crisis continues to darken the outlook for Europe with the latest development revolving around Russia’s Gazprom dumping salt into the wound.

Interestingly the euro was able to hold its ground versus most G10 currencies in August excluding the dollar. However, things are not looking too pretty quarter-to-date with the euro down roughly 5.7% against the king of the currency space.

Since the EURUSD secured a solid daily close below parity back in late August, prices have struggled to push higher thanks to technical and fundamental factors.

The outlook for the EURUSD remains bearish on the daily, weekly, and monthly timeframe with prices wobbling above 0.9900 as of writing. Given how the ECB is expected to join the jumbo hike club, could this be enough to cushion the downside and rescue euro bulls?

The Low Down…

Eurozone inflation hit a new record high in August at 9.1%.

This was higher than the 8.9% witnessed in July and above the 9% market forecast. With inflation hitting such lofty and uncomfortable levels, market expectations intensified over the ECB adopting an aggressive approach toward rates in an effort to cap inflation. According to Bloomberg, traders and predicting a 66% probability of a 75 bp rate hike in September. It does not end here.

Last Friday, Gazprom made a last-minute decision to suspend natural gas flows through the Nord Stream 1 pipeline – ultimately worsening the squeeze on Europe’s energy supplies. This move is likely to expose the economy to downside shocks and create more uncertainty and fuel inflationary pressures as gas prices soar.

What to Expect From ECB?

Before thinking about what to expect from the ECB on Thursday, there are a couple of things to keep in mind before the big day. ECB hawks are certainly in the building but the question is how much resolve they have to tame inflation. It’s worth keeping in mind that the latest ECB economic forecasts could offer fresh insight into inflation expectations. It will be interesting to see what the central bank has to say about the energy crises and whether this will push the Eurozone into recession. Let’s not forget about the depreciating euro and how it could impact the central bank’s policy outlook.

Possible Outcomes on Thursday

  • ECB hikes rates by 75 basis points and strikes hawkish tone opening doors to further jumbo hikes. This move may inject euro bulls with fresh inspiration, pushing the EURUSD back above parity towards 1.0100. However, upside gains may be capped by the gloomy outlook for the Eurozone.
  • ECB hikes rates by 75 bp but expresses concern over the economic outlook, reducing bets of more aggressive hikes down the road. Euro pops higher but bears seize control – limiting gains below parity
  • ECB surprises markets with a 50 bp hike and strikes dovish tone, this could excite euro bears – triggering a selloff that breaches the 0.9900 floor.

EUR/USD: The Path of Least Resistance South…

As the subtitle says, the path of least resistance for the EURUSD points south.

Earlier we identified how the currency pair was bearish on the daily, weekly and monthly timeframe. Looking at the weekly timeframe, prices are respecting a bearish channel and trading well below the 50-, 100- and 200-week Simple Moving Average. Sustained weakness below parity could trigger a selloff towards 0.9700 and 0.9600, respectively. A strong weekly move back above 1.1000 may suggest an incline towards 1.0200.

Zooming in on the daily, prices remain bearish but there could be a period of consolidation if 0.9900 proves to be reliable support. A solid daily close below this level could trigger a selloff towards 0.9700. Should 0.9900 prove to be reliable support, a rebound towards parity and potentially higher could be on the cards before bears re-enter the scene.

For more information visit FXTM.

EUR/USD Crumbles To 20-Year Lows

Euro bears went on a rampage today, dragging the EURUSD to levels not seen in 20 years as traders cut bets on European Central Bank (ECB) rate hikes!

The heavy sell-off was triggered by soft economic data from France which not only darkened the already gloomy outlook but fanned fears of a recession in Europe. With ongoing geopolitical tensions obstructing the ECB’s ability to aggressively raise rates like the Fed, the widening interest rate differentials could fuel the EURUSD selloff.

According to Bloomberg, there is now a 60% chance of the parity dream becoming reality by the end of 2022. The last time the EURUSD was parity was back in the first trading week of December 2002.

Before we take a dive into the technicals, it is worth keeping in mind that the euro has depreciated against most G10 currencies today. With the fundamentals swinging in favour of bears, euro weakness could become a key theme this quarter. Although the EURUSD remains our focus, the latest selloff could present fresh opportunities across other euro crosses.

EUR/USD breaches critical support…

The EURUSD has cut through the 1.0350 support like a hot knife through butter.

Prices are heavily bearish on the daily charts as there have been consistently lower lows and lower highs. Bears have a lot of freedom below 1.0350 due to the absence of any key support levels. The next level of interest can be found at 1.0200 and 1.0000. If prices are able to push back above 1.0350, then the EURUSD could retest 1.0480.

EUR/JPY approaches 50-day SMA

After failing to conquer the 144.00 resistance level, the EURJPY could be experiencing a bearish reversal with the breakdown under 141.50 signalling further downside. A weaker euro could drag the EURJPY towards the 138.00 support level. Should bears secure a strong daily close under this point, the next level can be found around 134.50.

EUR/GBP choppy as ever…

There was some action on the EURGBP as prices spiked below the 0.8580 support level before pulling back higher. This currency pair remains a battleground for bulls and bears. Although the overall trend point north, resistance can be found around 0.8680. A daily close below 0.8580 may encourage a selloff towards 0.8500 and 0.8440.

EUR/AUD wobbles above support

The EURAUD could be gearing up for a breakdown below the 1.5150 support.

It’s been trapped within a range over the last 2 weeks with the pressure growing by the day. Yesterday’s bearish candle suggests that a selloff could be around the corner with 1.5150 acting as the gatekeeper. A breakdown below this level may open the doors towards 1.4900 and 1.4770. Should 1.5150 prove to be reliable support, a move back to 1.5300 could be on the cards.

For more information visit FXTM.

Mid-week Technical Outlook: FX Minors & Crosses In Focus

Global equities were tugged and pulled by inflation fears, rate hike expectations, and ongoing geopolitical risks. In the currency space, king dollar loosened its grip on the FX space allowing G10 majors to bounce while lingering below its 200-day Simple Moving Average.

Over the past few weeks our attention has been on king dollar but this afternoon the spotlight shines on minor and cross currency pairs. The minors are normally referring to non-USD forex currency pairs while crosses are pairs that do not contain the dollar as either the base or quote currency.

Although minors and crosses are slightly less popular than the majors and often experience more wild swings due to less liquidity in the markets, they still present trading opportunities. So, if you have had enough of the dollar and would like something different, check out the setups below!

GBPJPY wobbles above 160.00

After rallying the previous session, the GBPJPY looks tired and may be running on empty fumes. Prices remain bearish on the daily timeframe with the candlesticks trading within a negative channel. A breakdown below 160.00 could result in a steeper decline towards 157.50 and lower. Should 160.00 prove to be reliable support, an incline back towards 162.00 could be on the cards.

GBP/JPY Daily chart

EUR/JPY ready to resume selloff?

The technical bounce on the EURJPY could be over if prices fail to push above 137.00. Bears still remain in some control with prices respecting a bearish channel on the daily charts. A decline back under the 50-day Simple Moving Average could trigger a selloff towards 134.50 and 133.00, respectively. If prices are able to break above 137.00, then a move towards 138.00 could become reality.

EUR/JPY Daily chart

EUR/GBP choppy as ever

There is a lot going on with the EURGBP as bulls and bears battle it out. Prices remain as choppy as ever but the trend could turn negative if prices close below 0.8420. Sustained weakness below this level could result in a further decline towards 0.8380. If prices are able to bounce from 0.8420, the next key level of interest can be found at 0.8500.

EUR/GBP Daily chart

EUR/AUD breakdown or bounce?

As the subtitle says, the EURAUD can either experience a technical bounce from 1.4900 or breakdown below this point to hit 1.4600. The trend looks bullish on the daily charts but prices are trading below the 100 and 200-day Simple Moving Average. Should 1.4900 prove to be reliable support, a move back towards 1.5300 could on the cards.

EUR/AUD Daily chart

AUD/NZD higher highs and higher lows…

This currency pair remains firmly bullish on the daily timeframe. There have been consistently higher highs and higher lows while the MACD trades to the upside. A solid breakout and daily close above 1.1100 could encourage a move higher towards 1.1200. A daily close below 1.0750 could trigger a selloff towards 1.08200.

AUD/NZD Daily chart

For more information, please visit: FXTM

EUR/AUD Isn’t Bullish – Bears Should Win This Time

EUR/AUD Technical Analysis

  • The market is still bearish
  • The break of 1.5440 will mark the continuation
  • Selling the rallies is possible

  1. Order block zone
  2. Breakout
  3. Order block 2
  4. Downside target
  5. Descending Trendline

The price is still in downtrend. There are signs of possible continuation after some retracement up. The price has already broken below the point 1 on the chart which is a sign of a downtrend continuation. However, the problem is a possible false breakout. At this point, the downtrend is still very visible so, selling into rallies is still the valid scenario. Target for the move down is 1.5393. If the price moves back to 1.5440, breakout lower is expected again. Only the break of the descending trend line could start a deeper retracement on intraweek scale.

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

Cheers and safe trading,

Nenad

 

Buyers Do Not Have Enough

Indices are firm in the middle of the week with the SP500 flirting with all-time-highs and the Nasdaq coming back above major supports. Two main indices are slightly behind: the DAX and Nikkei but we cannot say that there is a major bearish situation there. At least not yet.

Gold protected the crucial mid-term up trendline and saved its positive sentiment.

Brent Oil escaped from a few days long consolidation and is aiming for new long-term highs.

The USDCAD consolidated above the strong long-term horizontal support, which may indicate willingness for a breakout.

The ERUCHF keeps dropping but the price is getting closer to the mother of all supports, where the situation can get very interesting.

The EURAUD is in a very clean price action setup, where the price bounces from a combination of two horizontal and one dynamic resistance. As long as we stay below, the sentiment is negative.

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

Terrible Month for USD but Maybe the Last Day Will Be Better

Gold attacked a crucial support again but this time with a very sharp fall.

Brent oil initiated a bearish correction.

The Dow Jones is still in a pennant waiting for a breakout.

The DAX is still in a rectangle pattern also patiently waiting for a direction.

The EURUSD has started a bearish correction.

The Canadian Dollar is still going stronger.

The EURAUD is in a symmetric triangle waiting for a breakout.

The AUDCHF is in a similar situation.

The EURNZD is also waiting to end the sideways trend but in this case, the price is locked inside of a rectangle.

The AUDJPY defends a crucial support level after the bullish breakout from the triangle. It’s an interesting opportunity in terms of risk to reward ratio.

The ZARJPY defends the neckline of the head and shoulders formation.

The USDHUF is in a long-term sell signal after the price drops below the major support.

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

EUR/AUD It’s Time for Sellers to Turn the Tables

The EUR/AUD is making a 1-2-3 hook pattern and we should see a move down. Sellers are here.

After a retracement, the pair has come to W H3 camarilla pivot. However, it is not just the W H3, it is also a M H4 which indicates a monthly camarilla pivot level. I see a continuation lower towards 1.5538 and a potential for 1.5465. Sellers are in control at this POC as the AUD is getting stronger. Watch for a drop from the POC zone towards above-mentioned levels.

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

Cheers and safe trading,

Nenad

 

Weekly Commentary – EUR, USD and GBP

EUR/USD 1.2061, AUD/USD 0.7657 and USD/CAD 1.2783 decide future and current direction to all 28 currency pairs. EUR/USD and AUD/USD breaks then much lower or much higher. USD/CAD breaks 1.2783 then much higher or a failure to break then much lower.

JPY cross pairs remain overbought and reveal EUR/USD and AUD/USD will eventually break lower and USD/CAD breaks higher. GBP and NZD will then follow lower.

Not a driver to market prices this week are the typical alarm bells written by market writers with specialization in marketing rather than expertise in markets, trading and market prices. Elections, Covid, lockdowns, vaccines, central bank meetings, yields, month-end, Fed, Powell and the Mars rover landing failed to move market prices. Not at the time of release nor in subsequent trade days did prices move except to the degree intended from the start of the day or week.

A market price will achieve its destination by mathematical certainty without regard to outside events yet professional alarm bell ringers are surprised at a rise in yields, no movements to NFP and central bank meetings and to a price that fails to respond to their sounding of the bells in the market square.

NFP and fed meetings barely moved EUR/USD 20 pips in each of the last 6 and 8 months. Whistleblowers month-end and rebalance will be heard this week. Meanwhile, monthly averages haven’t changed in many months and a rebalance nor month-end changes to prices fails to exist as price fail to move enough to require changes to averages.

DXY monthly averages remain inside 89.95 to 91.43, Gold 1815 -1642. EUR/USD traded 1.1900’s -1.2200 in February, 1.2000’s to 1.2300’s in January. The 2 year yield traded 0.11 to 0.23 in the past 9 months. The S&P’s traded 300 points from 3900 to 3600 for February, 200 points for January. WTI traded 10 points in February from 51.00 to 61, and 6 Points for January.

Our professional alarm bell ringers are long on whistles but short on market competency. A Necessary yet least favored aspect to market prices, trades, and economics is the requirement to run and enter data for a clear picture of entries and exits and to understand the economic condition. But market prices and profits were never nor will ever be the ultimate goal to reporting.

The Week

The ultimate revelation to a cautious market this week is found in GBP/AUD and GBP/NZD. GBP/AUD at 1.8059 resides inside vital range points from 1.7885 to 1.8130 and GBP/NZD at 1.9318 to 1.9176. Both GBP/AUD and GBP/NZD from oversold last week drifted higher directly into a neutral zone for this week.

EUR/AUD and EUR/NZD however are deeply oversold and contains the ability to travel higher while GBP/AUD and GBP/NZD remain stuck in neutrality.

EUR/USD led the charge higher for non USD pairs upon the break of the 5 year average at 1.1300’s last July and is in the position to take down GBP, NZD and all non USD pairs. GBP/USD must break 1.3600’s and NZD/USD 0.7100’s to assist in a wholesale trend change.

Deeply oversold USD/CHF at 0.9084 broke higher from 0.9001, CAD/ZAR trades above 11.86 and USD/CAD is on the verge of a break higher at 1.2783.

GBP/USD retains slightly overbought status while next highest exchange rate GBP/JPY is deeply overbought and next lowest GBP/CHF also opens the week in richter scale overbought. Same situation exits for EUR/USD, AUD/USD and NZD/USD as EUR/CHF and EUR/JPY are both overbought. NZD/CAD and AUD/CAD offer no assistance as leaders to NZD/USD and AUD/USD direction as both sit in neutrality.

EUR/GBP challenges 0.8732 on a break of 0.8573 or a drift to 0.8400;s. EUR/GBP traded to exactly 0.8728 Friday then lower to close at 0.8655.

DXY remains in a 89.95 to 91.43 range and a break higher at 91.43 challenges 92.78.

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

Weekly Round Up – February 21st, 2021

AUD/USD broke its long standing and much written line at 0.7821 and traded 57 pips to 0.7877. Above 0.7821, AUD/USD ranges between 0.7821 to the 10 year average at 0.8305 or 484 pips. Below 0.7821, AUD/USD trades 0.7821 to 0.7308 or 513 pips. Below 0.7821 exists 0.7605.

DXY last week maintained its 148 pip range between 89.95 to 91.43. Above 91.43 next targets 92.78 in a 135 pip range.

GBP as written in the last post maintains deep overbought status across all GBP pairs except GBP/NZD. Watch 1.9136 this week for best moves.

EUR/USD opens in fairly perfect neutrality however ranges continue to compress. Problem pair EUR/JPY and all JPY cross pairs maintain deeply overbought status for week 4. EUR/CAD, EUR/NZD and EUR/AUD open the week massive oversold. EUR/CAD and EUR/AUD will provide the best moves.

Stand clear EUR/CHF as AUD/CHF and NZD/CHF will provide better movements.

NZD/USD 0.7267 then 0.7356 Vs 0.7267 and 0.7990. NZD/CAD is overbought while NZD/JPY heading into week 4 maintains richter scale overbought status.

Overall, NZD/USD traded 200 pips from 0.7100’s to 0.7300’s for the past 2 months and provided support to GBP and AUD to allow both to move higher. Explains the divergence seen in EUR/NZD Vs GBP/NZD this week.

USD/JPY watch 104.97 and USD/CAD 1.2587 Vs 1.2826.

 

 

EUR/AUD Bullish Retracement or Reversal Despite Downtrend

The EUR/AUD is showing bullish reversal or retracement signals. This article reviews the reversal signs and analyses the two main scenarios for this currency pair.

Price Charts and Technical Analysis

EUR/AUD 25.01.2021 daily chart

The EUR/AUD has 6 daily candles failing to break for a new low. This indicates the end of the bearish price swing and the start of a bullish price swing.

There are also other signals that confirm this:

  • Double bottom pattern
  • Break above the resistance trend line
  • Bullish daily candles
  • HMA 20 is up
  • Oscillator momentum is bullish (blue)
  • Higher high

The overall direction, however, could remain bearish due to the lack of divergence. This is why the bearish swing has been labelled as a wave 3 (pink) of wave C (purple).

The current bullish swing is likely to be a retracement. The main target is the 38.2% Fibonacci retracement level where a new downtrend could emerge (red arrows).

Only a break above the resistance trend line (orange) plus the 21 ema zone and the emergence of an uptrend channel (green lines) could indicate an uptrend (blue arrows). This indicates the end of the downtrend and wave C (purple).

On the 4 hour chart, price action is expected to make one push up (green arrows). Although price could dip first to test support. The bullish retracement remains likely as long as price action stays above the Wizz 6 level.

The Wizz 5 level and 144 ema zone could act as a key resistance. A strong bearish bounce confirms the downtrend (red arrows). A break above the Wizz 5 level indicates a new uptrend (blue arrows).

EUR/AUD 25.01.2021 4 hour chart

Good trading,

Chris Svorcik

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

The analysis has been done with the indicators and template from the SWAT method (simple wave analysis and trading). For more daily technical and wave analysis and updates, sign-up to our newsletter

 

V-Shape Reversal on Stocks. Something That We Got Used To

Gold, did not manage to break the upper line of the flag but still defends above the major support on 1850 USD/oz.

Silver on the other hand, broke both important resistances, horizontal and dynamic one.

Oil tries to defend the lower line of the channel up.

Major indices with V-shape reversals.

EURUSD aims higher again.

USDJPY denies the Inverse Head and Shoulders pattern and aims lower.

USDCAD bonces from a crucial long-term horizontal resistance.

EURAUD possibly with another false breakout, this time to the downside.

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

Indices and Commodities Climb Higher

Commodities are enjoying the weaker USD and advancing higher.

Indices also going up, not disturbed even by new lockdowns.

EURUSD is about to test crucial horizontal resistance.

EURJPY in a sideways trend below 126.7.

AUDJPY with an inverse head and shoulder and breakout of a long-term down trendline.

USDCAD still near lows after the breakout of major horizontal support.

GBPCHF with a breakout of the lower line of the triangle.

EURAUD with a possible false bearish breakout from the rectangle.

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

Monday Brings Us Higher Volatility on Major Indices

Indices start the new week on local highs and then quickly collapse. The start of the European session brings buyers a bit of relief, volatility is definitely here!

DAX bounces from the lower line of the triangle.

SP500 on the other hand, bounces from the upper line of the triangle.

Gold moves gradually lower.

Oil locked in a flag, aiming the latest broken resistance.

Dollar Index heading lower again.

EURUSD do not stop the upswing.

EURAUD still defending major horizontal support.

The same goes with the USDCAD, which is holding above 1.297.

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

Monday Starts Promising for Indices and Commodities

Indices starts the new week on the front foot.

SP500 is inside the short-term symmetric triangle pattern.

Nasdaq is in the same formation but in the long-term.

DAX is inside of the ascending triangle formation awaiting bullish breakout.

Gold still trades above 1850 USD/oz.

Brent Oil flies away after breaking the upper line of the triangle.

Dollar Index attacking crucial horizontal support.

AUDUSD attacking the upper line of the triangle.

EURAUD is about to test the lower line of the long-term sideways trend.

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

 

Thursday On Indices Brings Us a Correction

Seems that Thursday will be a correction day on global stock exchanges, which is pretty normal and sellers should not get overly excited about seeing a red color on the screens.

FTSE is getting ready for a bearish correction, probably aiming 38,2% Fibonacci.

CAC is doing pretty much the same.

Gold is defending crucial support on 1850 USD/oz.

Oil is testing the most important support in the past few weeks – 41.3 USD/bbl.

AUDUSD aims lower after creating the Head and Shoulders pattern.

EURUSD goes lower after the false breakout of a dynamic resistance.

EURAUD tests and bounces from the lower line of the long-term range.

USDCAD bounces from the long-term horizontal support.

CHFJPY – two safe haven currencies locked inside of the symmetric triangle pattern.

GBPCAD with exactly the same situation.

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

How Not to Like Mondays?

SP500 is on all-time highs

DAX breaks the line connecting the top of the head and the right shoulder of the H&S formation

CAC goes above highs from June

FTSE breaks the upper line of the flag

Gold collapses heavily

Oil tests the upper line of the symmetric triangle

Dollar Index on the other hand breaks the lower line of the symmetric triangle

AUDUSD climbs higher after breaking the upper line of the wedge

EURAUD shows how to deal with the false breakouts. Hint: You trade them!

USDCAD breaks crucial horizontal support

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

Market Action Before US Elections

Nasdaq bounces from the lower line of a big symmetric triangle pattern.

SP500 finds support on the 23,6% Fibonacci and tests it with a nice daily hammer.

DAX has even a better situation, also with hammer but here on the 38,2% Fibonacci, which tends to be more reliable.

EURUSD tests the broken 1.17 as a closest resistance. Sellers are winning.

EURAUD is coming back inside the sideways trend area. Apparently the bullish breakout was fake.

Gold is bouncing from the 1893 USD/oz resistance.

EURPLN comes back a bit and test the broken 4,59 as a closest support. That looks like a great place for a price action traders.

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

Indices Try to Catch a Breath. Great Session for USD

Almost all indices collapse and aim for long-term lows.

SP500 is testing the 23,6% Fibonacci.

DAX is very close to reach the 38,2% Fibonacci.

FTSE breaks the lower line of the wedge formation.

CAC reaches crucial support from the first half of the year.

EURUSD breaks the lower line of the flag formation.

EURAUD eventually bounces from the upper line of the sideways trend.

EURGBP in a flag but with inclinations for an upswing.

AUDCHF goes lower after the bounce from a crucial resistance.

WTI Oil breaks the lower line of the symmetric triangle.

Gold goes lower after the escape from the mid-term pennant.

USDPLN breaks the neckline of the inverse Head & Shoulders pattern, it looks bullish.

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

Indices Wobble Above Major Supports

DAX is making an attempt to break the neckline of the head and shoulders pattern, which can start a major downswing.

FTSE is fighting on the 5800.

Dollar Index in the pennant waiting for a breakout.

USDJPY trying to break the upper line of the ascending triangle pattern.

GBPUSD bouncing from the crucial 1.3 support.

EURAUD are testing the recent most important resistance as a support.

WTI Oil on a good aim to test the lower line of a big symmetric triangle pattern.

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