EUR/USD: local bullish 'Engulfing'
The market is likely going to test the next resistance at 1.1836, which could be a starting point for a bearish correction...
AUD/CHF rising inside minor impulse wave 3
- AUD/CHF rising inside minor impulse wave 3
- Next buy target - 0.7400
AUD/CHF recently reversed up from the support zone lying between the pivotal support level 0.7280 (which has been reversing the price from the start of May, as can be seen below), lower daily Bollinger Band and the 50% Fibonacci correction of the previous sharp upward price impulse 1 from the start of June. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Bullish Engulfing. AUD/CHF is expected to rise to the next buy target at the next resistance level 0.7400.
Dmitry Chernovolov
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