Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
EUR/JPY reversed from support area
- EUR/JPY reversed from support area
- Next buy target - 126.70
EUR/JPY recently reversed up from the combined support area located between the pivotal support level 125.00 (which stopped the previous downward impulse in (1) in May, as can be seen below) and the lower daily Bollinger Band. The upward reversal from this support area stopped the previous minor impulse wave 3. Given the oversold reading on the daily Stochastic indicator - EUR/JPY is expected to rise further toward the next buy target at the next resistance level 126.70.
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
Technical analysis of the USD/CAD
After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.
AUD/USD that has settled below the 100-day MA in the 0.6840 area. Learn more!
The earnings season in the United States is still on. This means that stocks of the largest American companies will likely make big moves.