The USD made decisive moves mostly with the exotic currencies - let's have a look to prepare for new market entries.
USD/CHF broke pivotal support level 0.9250
- USD/CHF broke pivotal support level 0.9250
- Next sell target - 0.9450
USD/CHF continues to fall after the earlier breakout of the pivotal support level 0.9250 (low of the previous sharp intermediate impulse wave (3) from the start of February). The breakout of the support level 0.9250 continues the active intermediate impulse wave (5), which started earlier with the daily Bearish Engulfing from the resistance level 0.9450 (former multi-month support level from July and September).
Risk-on pushed stocks and riskier currencies upward.
It’s simply the question of time before gold price gets to the higher levels…
Coronavirus and massive oil oversupply was a once-in-a-generation coincidence. Is the worst over?