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GBP/CHF slipped below the 50-day MA this week. The line is currently acting as resistance at 1.1905. Earlier declines below it led to bigger moves down. This allows us to expect that the fall below 1.1850 will trigger a slide to 1.1785 (38.2% Fibonacci retracement of the March-April advance) in line with the longer-term downtrend. The next key level on the downside will be at 1.1650. Moving Averages on the H4 are getting in the negative order. The overall outlook will remain bearish as long as GBP/CHF is trading below resistance at 1.2000.
SELL 1.1845; TP 1.1785; SL 1.1860
SELL 1.1990; TP 1.1870; SL 1.2010
When Twitter Inc. and Snap Inc. posted quarterly revenue that blew past analysts’ expectations, the results bumped up the shares of the two of their larger rivals: Facebook Inc. and Alphabet Inc.
EUR/USD managed to rise for a very short period of time right after the ECB decision to as high as 1.1798 before declining and giving away its entire gains.
US Equities bounced back again in the past two days, while the S&P500 recovered all of its declines after holding well above its 50-day MA for the fifth time this year.
What happened? Brent returned to the rising channel on Wednesday by gaining 4% during the trading session…
When Twitter Inc. and Snap Inc. posted quarterly revenue that blew past analysts’ expectations, the results bumped up the shares of the two of their larger rivals: Facebook Inc. and Alphabet Inc.
EUR/USD managed to rise for a very short period of time right after the ECB decision to as high as 1.1798 before declining and giving away its entire gains.
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