Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
EUR/USD: 'Engulfing' pushing the price higher
There's a bullish 'Engulfing', which has been confirmed enough. So, the market is likely going to test the 34 Moving Average (1.1460), which could be a departure point for a decline toward the next support at 1.1301.
We've got a bullish 'High Wave', which has been confirmed. In this case, we should keep an eye on the 144 Moving Average (1.1460) as the main intraday target. A pullback from this line could lead to another bearish rally.
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.