The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
EUR/CHF daily up channel
- EUR/CHF daily up channel
- Next sell target - 1.1450
EUR/CHF continues to fall after the recent breakout of the support trendline of the daily up channel from the end of May (which has enclosed the previous medium-term impulse wave (1)). The breakout of this up channel accelerated the active short-term impulse wave C of the medium-term ABC correction (2) from June. EUR/CHF is expected to fall further toward the next sell target at the next round support level 1.1450 (which reversed the price sharply in May).
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
It looks like GBP/JPY is finally trying to break out of the recent consolidation. Learn more!
Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.
GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.