AUD/JPY formed a “shooting star” candlestickon the W1. This week, it’s testing levels below the 50-week MA at 75.45.
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.
In times of political and economic uncertainties, analysts recommend investing in safe-haven assets. However, since recently, the USD with the weak American economic data and the easing monetary policy has been losing its status. What about the JPY and XAU? The situation is unclear.