Chart of the Day -EURAUD- (Feb 20th 2019)
A breakout higher or lower out of this triangle will happen following the Australian employment data tonight.
A breakout higher or lower out of this triangle will happen following the Australian employment data tonight.
The AUDUSD has a bear flag setting up before some key economic events.
Gold has spent the last couple of weeks consolidating its gains in what looks like a bull flag.
The USDCHF rally has been very strong in the last several weeks from the beginning of the year, but the pair has ran into a wall of resistance at the multiyear trend line that spawns back from the end of 2016.
Consolidation patterns, like a triangle, can be very explosive patterns when it comes to the markets because the market is “winding up” for so long.
The AUDJPY fell aggressively overnight to channel support following RBA Governor Lowe’s comments about the path of the next rate move would be.
The USDSEK is not a currency pair that Forex Analytix commonly follows, but at times it is worth noting.
The USDCAD will apparently close the week below the 200DMA.
Since the AUDUSD rallied from the late North American session selloff from a couple weeks back, the rally has stalled at the 200DMA.