Candlestick Daily: EUR/USD Forming Descending Triangle, But Will 1.30 Break Today?

CURRENCY CURRENT BIAS POTENTIAL STRATEGY
EUR/USD (Short Term)
Descending triangle forming, but lack of catalyst suggests 1.30 floor may hold for another day. See full report for more details.
GBP/USD (Short Term)
Treading water around 1.5200 as traders wait for volatility to pick up. See full report for more details
USD/JPY (Short Term)
Stalling ahead of key psychological resistance at 100.00 – looking to buy dips later this week.
USD/CHF (Short Term)
Treading water in the mid-.9400s as traders wait for a breakout before trading. See full report for more details
USD/CAD (Short Term)
Back above 1.0500 after a slight pullback yesterday, still favoring a rally to 1.0600 later this week. See full report for more details
AUD/USD (Short Term)
Down slightly to .9180 after dovish RBA statement, but recent .9100 – .9300 range clearly intact
NZD/USD (Short Term)
Also rangebound, watching support at .7700 and resistance in the mid-.7800s

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