USD/CHF: price to test nearest support

USD/CHF: price to test nearest support

Information is not investment advice

The market has been rising since the last 'Pennant' pattern formed. However, there's a 'V-Top' pattern, which has been confirmed. Thus, it's likely to have a local downward correction towards the nearest support at 1.0098 - 0.0083. If a pullback from these levels happens next, there'll be a moment for another decline. In this case, we should watch the closest resistance at 1.0169 - 1.0190 as a potential bullish target.





XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

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