AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, after completing the correction, AUDUSD is forming another ascending impulse. If the price breaks the high, the instrument may continue growing to reach 50.0% and 61.8% fibo at 0.6982 and 0.7057 respectively. The support is still 23.6% fibo at 0.6818.

In the H1 chart, the price is approaching the high at 0.6938 for testing or maybe even breaking it. If it happens, the pair may continue moving towards the post-correctional extension area between 138.2 and 161.8% fibo at 0.6976 and 0.7000 respectively. At the same time, there is a divergence on MACD, which may indicate a new pullback after the instrument rebounds from the high. The local support is at 0.6838.

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, the bearish tendency reached 76.0% fibo. However, then there was a convergence on MACD, which made the pair start a new pullback towards 50.0% at 1.3185. The correction may yet continue for some time, but later the instrument is expected to resume its decline to reach the low at 1.3042 or fall even deeper.

The H1 chart shows more detailed structure of the current correction after the convergence. After reaching 38.2% fibo at 1.3188, the first ascending wave reversed to return to 23.6% fibo. However, as long as the price doesn’t break the low at 1.3102, the correction may continue. That’s why, the next rising wave will be heading towards 50.0% fibo at 1.3215.

On Thursday morning, GBPUSD is moving downwards; the correction is getting deeper.

The British Pound continues falling against the USD on Thursday morning. The current quote for the instrument is 1.3081.

Investors continue following the Brexit and have concerns that the United Kingdom may leave the alliance with the “hardcore” scenario, which implies no trading conditions because it might be impossible to discuss all nuances of trade relations between the parties in 11 months of the transition period. Probably, policymakers will be able to define some key points, but not much else. That’s what is keeping market players on the edge, because it may cut the United Kingdom off the European trade routes.

Today, the Bank of England is scheduled to have its last meeting this year. The interest rate is expected to remain unchanged at 0.75%. As a rule, the British regulator is pretty conservative when it comes to making monetary decisions and prefers to take its time when applying fiscal tools. Most likely, the BoE will decide to wait and see how the Brexit procedure unravels and make decisions only after that.

In addition to that, the United Kingdom is going to report on the Retail Sales which is expected to recover by 0.3% m/m in November after losing 0.1% m/m the month before. Also, investors are expecting the CBI Realized Sales in December. It looks like the Pound is going to have a quite volatile day.