Short analysis: We can see solid support below the daily cloud base, 1.1546. EUR/USD bears need a close below this base to change the market sentiment. We remain long at 1.1530.

GBP/USD

Trading strategy: Long

Open: 1.3110

Target: 1.3240

Stop-loss: 1.3045

Recommended size: 2.31 mini lots per $10,000 in your account

Short analysis: Bearish key day Friday sets up weak Monday start. We used today’s dip to open a long position. Long lower wick on today’s candle suggests a recovery is due.

USD/JPY

Trading strategy: Await signal

Open: -

Target: -

Stop-loss: -

Recommended size: -

Short analysis: USD/JPY saw the biggest one-week fall since February to register a weekly close well below the 200-week MA, now at 113.14, to set up a bearish bias going forwards. The scope grows for further losses down to 110.73 Fibonacci level, a 38.2 retrace of the 104.56 to 114.55 2018 rise and the 30-week MA, currently at 110.45.

USD/CAD

Trading strategy: Short

Open: 1.2950

Target: 1.2700

Stop-loss: 1.3075

Recommended size: 1.54 mini lots per $10,000 in your account

Short analysis: The CAD recovered slightly against the USD on Thursday and Friday, but the loonie lost ground for the week as investors worried about threats to the global growth outlook. A break below 14-day exponential moving average (currently at 1.2978) may add fuel to our short trade.

AUD/USD

Trading strategy: Await signal

Open: -

Target: -

Stop-loss: -

Recommended size: -

Short analysis: A new short-term high is set, daily RSI is biased and the pair clears the 10-day MA. Monthly RSI remains biased down and the pair struggles to break above the 76.4% Fibo of the 2016-18 rally. The 2018 down trend remains formidable. We will stand aside until clearer signs appear.

EUR/GBP

Trading strategy: Long

Open: 0.8760

Target: 0.8860

Stop-loss: 0.8760 (raised from 0.8710)

Recommended size: 3.03 mini lots per $10,000 in your account

Short analysis: The EUR/GBP broke above 7-day exponential moving average and is trying to close the day above 23.6% Fibo of August-October fall. Our long is in good shape, but long upper wick on today’s candle is worrying. We have raised stop-loss to the entry point.

Author

Wojciech Matysiak

MyFXspot.com

Wojciech Matysiak is a chief editor and chief economist of MyFXspot.com, currency market analyst and strategies provider.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.