EUR/USD has turned up from the 50-day MA at 1.1715 yesterday. This is a sign that buyers are strong. Still, the short-term resistance line limits the upside at 1.1870.
USD/CHF: should you buy or sell?
BUY 0.9975 SL 0.992 TP1 1.0075 TP2 1.0130 TP3 1.0175
SELL 0.985 SL 0.9905 TP1 0.976 TP2 0.9735 TP3 0.963
On the daily chart of USD/CHF, the pair has been reaching targets of the reversed “Shark” pattern with the 113% target. To keep rising, the pair needs to break the resistance at 0.998. Vice versa, a break of the support at 0.985 will increase risks of the pullback to the current rally.
On H1, the pair reached both targets of the “Wolfe waves” pattern. Up to now, there is a consolidation within 0.994-0.9975. An entry from it will determine the further direction of the pair.
USD/JPY is declining for the fifth day in a row. When the pair fell below 105.00, it entered a new, lower range.
The resistance line is limiting USD/JPY on the upside and, unless the pair tries for a breakout (which anyway will meet resistance at 106.50 and 106.80), the easiest path for it will be to go down.
Gold is steadily plummeting for the third consecutive day. Where is the bottom? Let’s find out.
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