Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
GBP/USD: 'V-Top' led to bearish rally
The pair has plunged because of the last 'V-Top' pattern. It's likely that the market is going to test the next support area at 1.2999 - 1.2968. A pullback from these levels could be a starting point for an upward correction towards the nearest important resistance at 1.3047 - 1.3072.
It seems like we're going to have a 'Pennant' pattern. If so, we should keep an eye on another support at 1.2999 - 1.2968 as an intraday target. If a pullback from this area forms little later on, there'll be time for a bullish 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.