Oil is testing support
The recovery of WTI last week met resistance in the 54.60 area. The price formed a gap down on the mounting fears about the coronavirus.
USD/CHF: a harmonic pattern
Information is not investment advice
It looks like a bearish “Bat” pattern is forming on the chart of USD/CHF. It means that the pair may probably be able to rise higher, to 78.6%/88.6% Fibo retracements of XA, but a decline will likely start from there. That scenario agrees with the fact that the resistance line from the 2019 highs is located in that area.
Elizabeth Belugina
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