Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
GBP/USD: 'Pennant' points to another advance
All the Moving Averages have acted as support, so there's a 'V-Bottom' pattern. In this case, the pair is likely going to reach the previously tested resistance at 1.2927 - 1.2946. If a pullback from this area happens next, there'll be a moment for another decline towards the nearest support at 1.2839 - 1.2814.
It seems like there's a 'Pennant' pattern, so we're about to have another bullish price movement. In this case, we should watch the closest important resistance at 1.2930 - 1.2057 as an intraday target. The subsequent pullback from these levels could lead to the beginning of a downward correction.
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.