On the daily chart of XAU/USD, the correction to the downward middle-term trend continues.
USD/CHF: bulls are counterattacking
TP1 1.0015 TP2 1.0055 TP3 1.0195
On the daily chart, USD/CHF keeps forming “Wolfe waves” pattern. The inability of bears to return the pair inside the long-term descending channel pointed at their weakness. To continue the rally towards 1.0195 and higher, the pair has to return inside the short-term trade channel.
On H1, USD/CHF is consolidating in the 0.9825-0.9915 area. A break of its upper border will mean the triggering of the “Broadening wedge” pattern.
On the daily chart of USD/CAD, the pair reached the 113% target of the "Shark" pattern.
On the daily chart of NZD/USD, bears managed to take control over the situation and pull the pair towards the lower border of the upward channel due to the "Three Indians" pattern.
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...