Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
USD/CHF: developing 'Flag' pattern
There's a 'Double Bottom', which has been confirmed, so the price is rising. However, it seems like we could have a bearish 'Flag' pattern under the Moving Averages. If so, bears are likely going to test the next support at 1.0031 - 1.0008 in the short term. The subsequent pullback from this level could lead to the beginning of an upward correction towards the nearest resistance at 1.0066 - 1.0091.
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
Technical analysis of the USD/CAD
After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.
AUD/USD that has settled below the 100-day MA in the 0.6840 area. Learn more!
The earnings season in the United States is still on. This means that stocks of the largest American companies will likely make big moves.