Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
EUR/GBP: 'Flag' led to another decline
Information is not investment advice
There's a 'Flag' pattern, which led to another decline. At the same time, we've got a local 'V-Bottom', so there's an opportunity to have an upward price movement towards the nearest resistance at 0.8596 - 0.8616. If a pullback from these levels happens little later on, bears will probably try to reach the previously tested support at 0.8483, which could be a starting point for a larger upward correction.
Technical analysis of the USD/CAD
Technical analysis of USD/CHF
After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.
AUD/USD that has settled below the 100-day MA in the 0.6840 area. Learn more!
This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.