XAU/USD reached resistance of the uptrend channel in the area of 1347.
EUR/USD: shark frightened the euro
Recommendation: SELL 1.1170, SL 1.1225, TP1 1.1095, TP2 1.1000.
On the daily EUR/USD chart, the risks of correction of the medium-term uptrend increase. Successful test of support at 1.1700 with the following decline to 1.1100-1.1130 will provoke further decline to 1.1000, 1.0930 and 1.0890. The latter level corresponds to 88.6% target of the shark pattern.
On H1 EUR/USD is trading within the descending channel. Bears are trying to get the pair under control. In the case of the break of support at 1.1170 and triggering of AB=CD pattern, they will succeed.
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...