Oil prices will likely remain elevated as there are no signs that the Middle East tensions will ease anytime soon.
EUR/CHF rising inside intermediate impulses wave (5)
- EUR/CHF rising inside intermediate impulses wave (5)
- Next buy target - 1.1600
EUR/CHF has been rising in the last few trading sessions inside the intermediate impulses wave (5) which started earlier from the combined support zone lying between the key support level 1.1380, lower daily Bollinger Band and the 61.8% Fibonacci correction of the previous upward price impulse (v) from the middle of August. EUR/CHF is expected to rise further toward the next buy target at the next resistance level 1.1600 (top of the previous sharp intermediate impulse wave (3)).
GBP/USD is having a third bullish week in a row.
AUD/USD made another attempt to close below the 50-day MA at 0.6845 and this time it was successful.
EUR/AUD formed a "hammer" candlestick on the W1, above the 50-week MA in the 1.6010 area.