On the daily chart of EUR/USD, there is a transformation of the "Shark" pattern into 5-0.
USD/CHF: bears are confused by a triangle
SELL 0.9775 SL 0.983 TP1 0.9675 TP2 0.964
BUY 0.9925 SL 0.987 TP1 1.0025 TP2 1.0145
On the daily chart, USD/CHF bears managed to lower the pair below important support at 0.9880-0.9890. They are focused on testing the lower border of an uptrend channel. The presence of a triangle means that to continue the way down the pair has to go below support at 0.9775.
On H1, to resume the rally bulls have to form a double bottom and then return the pair inside the uptrend channel.
On the daily chart of EUR/GBP, after implementation of the "Wolfe Waves" and "Shark" (88.6%) patterns, there is a correction as a part of the "Shark" pattern's transformation into 5-0.
Gold is correcting down after its previous advance. The metal is now trading below October high at 1243.35.
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...