Icon_contact
Contact

Market Update 26/03 Continuations in early development?

jeffriess
March 26, 2020
by Joseph Jeffriess, Market Analyst

Video Market Wrap below, a look at price patterns setting up on some markets.

Overnight U.S markets moved higher for a 2nd session. The USD fell to the CAD but fought back to the AUD. The EUR and GBP gained and have started fighting back to selling this morning.

This morning we noticed some patterns showing early signs of continuations developing. Getting closer to Australian lunchtime these patterns continue to weaken but we still have a lot of time to pass today so we will monitor. The main markets showing these early developing patterns are the; AUDUSD, AUDJPY, NDX100, BTC and the GBPJPY.

On these patterns, if we see new higher closes or breaks above yesterday’s higher we have to call the pattern cancelled for the time being.

GBPJPY Daily Chart

Video Update, we run over last night’s and this mornings moves breakdown several markets continuations could be developing on. These patterns are nowhere near confirmed but could be monitored.

Good trading from Eightcap.
All times are AEDT.