Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
GBP/USD: 'V-Top' pattern led to consolidation
The pair is consolidating along the Moving Averages. Also, it's likely that the current 'Pennant' pattern is about to end. So, the price is going to test the next resistance at 1.3032 - 1.2037 anytime soon. A pullback from this area could be a starting point for a decline towards the nearest support at 1.2911 - 1.2880.
The market has been consolidating since the last 'V-Top' pattern formed. Meanwhile, it's likely that the pair is going to test the Moving Averages in the short term. A pullback from these lines could be a departure point for another upward price movement.
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.