GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.
USD/CHF: bulls rebuffed an attack
TP1 0.9710 TP2 0.9750 TP3 0.9795
On the daily chart of USD/CHF, bulls managed to keep the pair from returning inside the downtrend. The pair formed a doji bar. Advance above its high and resistance at 0.9611 will giver buyers hope for growth to 88.6% and 224% of the “Shark” and AB=CD.
On H1, a pullback from the lower border of the uptrend channel within the “Spike and reversal with acceleration” shows that bulls have strength. Advance above resistance at 0.9610 will increase the odds of AB=CD pattern.
AUD/JPY has reached the support line connecting August and October lows in the 73.30 area. What's next?
After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.
The USD started the day dropping against the Canadian dollar, now on a bullish reversal.