EUR/USD:EUR/USD's daily chart shows signs of bull fatigue. The pair faced rejection at 1.1894 on Tuesday and closed
with a meager 0.10% gain at 1.1863, forming a daily candle with a long upper shadow. Such candlesticks imply bull
fatigue and are often followed by weak price action.
GBP/USD:GBP/USD prints four-day winning streak, recently picking up bids from 1.3144. The Cable keeps Friday’s
recovery moves from 10-day SMA and an ascending trend line from November 02 amid bullish MACD signals.
USD/JPY: USD/JPY drops for the fifth day after stepping back from 105.67 during last week. Tokyo to increase
alert level to the highest amid recent surge in covid infections. BOJ’s Kuroda signals further support for
regional banks, FinMin also hints economic helps.
AUD/USD :AUD/USD extends losses below 0.7300 amid disappointing Australian Q3 Wage Price Index data
and fresh covid restrictions announced in South Australia. Mounting coronavirus fears lift the demand
for the safe-haven US dollar.
USD/CAD: USD/CAD wobbles around 1.3100 during the initial Asian session on Wednesday. The pair recently
recovered from 50-bar SMA amid normal RSI conditions, which in turn suggest further corrective pullback towards
a falling trend line from November 04.
Gold: Gold (XAU/USD) extends its bearish streak into the third straight day on Wednesday, although remains in
a familiar range below $1900. Markets weigh in the optimism over the promising vaccine results against the
back drop of the coronavirus surge and new restrictions announced globally.
*WTI CRUDE OIL*
WTI created a Doji candle on Tuesday, indicating indecision in the market. On Tuesday, oil witnessed two-way
business and ended the day on a flat note, forming a Doji candle, a sign of indecision in the market.
*AUD -RBA Gov Lowe Speaks*
*CAD - CPI m/m*