EUR/GBP continues trading within an uptrend. The pair has managed to break above 0.9000 (38.2% Fibonacci retracement of the March-April decline) which now acts as support.
EUR/CHF looks ill
SELL 1.0915; TP 1.0880; SL 1.0930
The CHF is currently strengthening versus many currencies. The EUR is no exception. This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively. It looks like the pair formed a top when it slides below 1.0970. On the H4, the candlestick closed below the 61.8% Fibo retracement of the October advance at 1.0920, while moving averages are in the negative setup. There’s no substantial support for the price until 1.0880 (78.6% Fibo). The further level to watch on the downside is at 1.0835 (September lows).
EUR/USD will likely trade within the range in stayed in yesterday. The 100-period MA on the H4 (1.1225) supports the pair.
USD/CHF has made an impressive movement to the downside. The pair has closed on Wednesday below the 61.8% Fibonacci retracement in the 0.9455 area.
Risk-on pushed stocks and riskier currencies upward.
It’s simply the question of time before gold price gets to the higher levels…
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