USD/CHF: franc entered the intersection

USD/CHF: franc entered the intersection

On the USD/CHF daily chart, there is a struggle for the important level of 0.9636. If Bulls manage to push quotes higher, the risk of correction towards the current downtrend in the direction of 0.972 and higher will increase. In contrast, in the case of Bears’ victory, there will be a continuation of the downward movement towards targets 224%, 126.2% of the AB=CD and Crab patterns.


On the USD/CHF hourly chart, the result of the test of the support in the form of the lower border of the upward trading channel will indicate a further direction of the price movement. If Bears manage to test this level successfully, there will be a continuation of the downtrend. Their failure will lead to the development of correction.



GBP/CAD targeting lower levels

It seems the GBP/CAD looks forward to resume the bearish bias in the short-term, as it has been correcting the cycle started from May 18th and now, we can expect another leg higher to re-test the Fibonacci level of 50% at 1…


Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

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