Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
EUR/USD: bearish 'High Wave'
There's still no any reversal pattern so far, but we've got a bullish 'Three Methods'. At the same time, there's an opportunity to have a correction towards the closest support at 1.1720. If a pullback from this level happens next, the price is likely going to test the nearest resistance at 1.1824.
We've got a bearish 'High Wave', but confirmation of this pattern is weak. So, we could have just a local downward correction. Meanwhile, a pullback from the nearest support at 1.1758 could be a starting point for another bullish price movement.
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
Technical analysis of the USD/CAD
The earnings season in the United States is still on. This means that stocks of the largest American companies will likely make big moves.
This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.
After EUR/USD broke the 1.1180/1.1070 range to the downside, it has been trading within the short-term downtrend.