USD/CHF may rise a bit
USD/CHF formed a “hammer” candlestick on the D1. The most recent price low wasn’t confirmed by the Awesome Oscillator on this timeframe.
EUR/USD found a base
Information is not investment advice
Although EUR/USD has recently tested levels just above 1.11, buyers didn’t let the euro fall lower. On D1, we can clearly see that the second low set on Friday, May 3, was higher than the one of late April. The candlestick with the long lower wick gave EUR/USD bullish momentum. The pair is above the weekly pivot point (1.1199). It may now form a kind of harmonic pattern rising to 1.1260 (50-day MA) and even to 1.1320 (100-day MA).
Elizabeth Belugina
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