USD/CHF bullish above 0.9700

USD/CHF bullish above 0.9700

USD/CHF remains above the Fibonacci retracement level of 78.6% and awaits to resume the bullish bias in the short-term. Around the area mentioned above, the pair has formed a possible double bottom pattern that could help to boost the price action in favor of the bulls. If that happens, gains are expected to take place towards the -23.6% Fibo level at 0.9871. The invalidation point of this outlook is placed at 0.9666.

RSI indicator remains in the negative territory.



GBP/USD: "V-Top" pattern

We're likely going to have a downward correction. It's likely that bears are going to test the closest support at 1.4066 during the day...



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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