The Bank of Canada decided to keep the current policy unchanged as widely expected. However, the bank did not mention anything about tapering again in July.
Daily Market Analysis
EUR/USD managed to recover some of its last week’s decline, rising for the 2nd day in a row (Friday & Monday). However, such upside momentum is unlikely to continue.
Gold price formed a bearish harmonic ‘Butterfly’ pattern. Still, the detour to $1760 may be the decline it forecasts. In addition, even the pattern allows expecting the increase up to $1780.
The US dollar may find itself under additional pressure in the near term. What is the best way to trade on a weaker USD? Have a look at USD/JPY.
In this article, you'll find answers to major questions about the USD. Why is it rising? When will its dominance end?
Time to case-test a triangle chart formation with NZD/USD
AUD/USD formed an inverted "Head and Shoulders’ and is targeting 0.7815, 0.7840, and 0.7860.
This currency pair is now between the two MAs at the key resistance level - will it break it?
USD/JPY rose to the resistance of the 50-week MA at 106.00. The pair is not at the resistance line since the end of December.
The level of 23.6% Fibonacci retracement at 1.3795 is in the focus on the H4. The next level to watch on the downside is 1.3755.
USD/CAD reversed down from 1.2865 last week and formed a candlestick with a long upper wick on the W1.
Asia-Pac stocks traded higher as regional bourses took their cues from the fresh all-time highs on Wall Street.