CAD/CHF reversed from support zone

CAD/CHF reversed from support zone

  • CAD/CHF reversed from support zone
  • Next buy target - 0.7400

CAD/CHF recently reversed up with the daily Morning Star from the support zone lying between the key support level 0.7250 (which reversed the earlier minor correction 2 in June) and the lower daily Bollinger Band. The upward reversal form this support area started the active impulse wave (3) – which today broke the daily down channel from January. CAD/CHF is expected to rise toward the next buy target at next resistance level 0.7400 (top of the previous wave (iv)).


GBP/USD: "Thorn" pattern

The market is going to test the closest support at 1.4069 - 1.4027. If a pullback from these area happens little later on...



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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