Last week the stock of Alibaba rallied. The price moves close to the resistance line connecting April and July highs and the 100-week MA in the 175.00 area.
Daily Market Analysis
To gain the ability to head higher, towards 1.3445, USD/CAD needs to overcome 1.3355 (61.8% Fibo of the May-July decline).
The economic calendar for the upcoming week contains a number of important events…
EUR/CAD has tried to return above the previous support and now resistance line connecting the lows of 2015 and 2017.
USD/TRY met resistance near the line connecting 2019 highs in the 5.62 area. This is also where the 50-week MA is capping the price.
EUR/GBP may be about to make a bigger downside correction. The pair closed yesterday below the August support line and slipped below the weekly pivot point at 0.9250.
USD/MXN is quite used to sideways trading. Is it time to buy or sell?
EUR/NZD met resistance in the 1.7570 area, at the line connecting the 2019 highs.
What to expect for NZDCAD
USD/CHF fell to the lowest levels in almost a year. The pair slid below the June low at 0.9695.
EUR/USD is consolidating in a sideways horizontal range with a slight bearish bias. A breakout is getting near.
Technical analysis of GBPCAD