Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
GBP/USD: 'V-Bottom' points to bullish correction
The pair has been declining since the last 'Triangle' was broken. Also, we've got a 'V-Bottom', so there's an opportunity to have a local upward correction. In this case, we should keep an eye on the closest resistance at 1.3008 as a possible departure point for another decline.
We've got a 'V-Bottom', which has been confirmed by the last 'Pennant'. At the same time, it's likely to have a local bearish correction towards the nearest support at 1.2932. If we have a pullback from this level next, bulls will try to test the next resistance at 1.2974 - 1.2994.
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.