Gold has started a remarkable downside correction and stands on the key 23.6% retracement area after a failure to hold the 38.2% retracement area.
EUR/CHF broke key resistance level 1.1610
- EUR/CHF broke key resistance level 1.1610
- Next buy target - 1.1750
EUR/CHF continues to rise after the earlier breakout of the key resistance level 1.1610 (top of the previous minor correction B and the former strong support level from November and December). The breakout of the resistance level 1.1610 accelerated the active C-wave of the intermediate ABC correction (B) from February. EUR/CHF is expected to rise further toward the next buy target at the next resistance level 1.1750 – followed by 1.1800.
Gold is steadily plummeting for the third consecutive day. Where is the bottom? Let’s find out.
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