After yesterday's equity sell-off things are looking mixed in the Asian session this morning.
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.
US stock markets tumbled at the opening on Thursday as the Federal Reserve's warnings about a slow recovery from the pandemic.
China’s economy continued its rebound from the coronavirus pandemic, with a round of key data for August all coming in above expectations.
The dollar index was up late Tuesday afternoon in Asia, extending the 0.8% gain in the previous session, when COVID-19 fears and worries over the US Congress’ stimulus impasse drove a selloff across other assets.
Bank of England Governor Andrew Bailey delivered a speech today. Let’s discuss what it means for a trader.
Gold has started a remarkable downside correction and stands on the key 23.6% retracement area after a failure to hold the 38.2% retracement area.