EUR/JPY is likely to move further within an uptrend. Look for the break out above 121.55!
EUR/CHF gets some help
Information is not investment advice
It turns out that the Swiss National Bank is buying foreign currency in order to limit the appreciation of the CHF. The main currency pair which is monitored by the central bank is EUR/CHF. Yesterday, the pair formed a hammer-like candlestick on D1 - a sign of a potential bullish correction. The pair will retain chances of such a move as long as it’s trading above the 50-hour MA in the 1.0910 area. The target is at 1.0960 (50% of the July-August decline, July low).
GBP/CHF formed a "bullish engulfing" candlestick on the W1. On smaller timeframes, we see a higher low that makes the price action resemble an “Inverse Head and Shoulders” pattern.
It’s simply the question of time before gold price gets to the higher levels…