USD/CHF may test lower levels this week as long as it keeps trading below the resistance at 1.01.
EUR/GBP: bulls befriend a dragon
TP1 0.8985 TP2 0.904
On the daily chart, bulls are trying to catch hold of 0.8810 (50% of the last bullish wave). To counterattack in order to resume the uptrend, they need to conquer resistance at 0.8900. On the other hand, a break of support at 0.8775 will increase the risks of continuation of the decline.
On H1, a break of resistance at 0.8900 will create the potential for the realization of the “Dragon” pattern. However, for a start bulls have to defend current positions and form a “Double bottom”.
The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
USD/JPY formed a big bearish candlestick yesterday that almost engulfed the previous bullish one.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...