On the daily chart, we expect the price of gold to fluctuate sideways within the Symmetrical Triangle with resistance and support marked by the blue line.
EUR/GBP rising inside intermediate impulse wave (3)
- EUR/GBP rising inside intermediate impulse wave (3)
- Next buy target - 0.9240
EUR/GBP continues to rise after the earlier upward reversal from the support zone lying between the support level 0.9070 and the support trendline of the sharp narrow daily up channel from the middle of July. This daily up channel is enclosed by the wider daily up channel from March – indicating the strengthening of the bullish pressure on this currency pair. EUR/GBP is expected to rise to next buy target at the next resistance level 0.9240 (target price for the completion of the active intermediate impulse wave (3)).
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...