USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
USD/CHF: the franc dreams about the “wedge”
TP1 0.9755 TP2 0.9725 TP3 0.9625
On the daily chart of USD/CHF, bulls failed to pull the pair out of the upper boundary of the 0.9855-0.9995 consolidation. It signals the weakness of bulls. The “Shakeout-Fakeout” pattern was formed. If it is implemented, bears will take an initiative.
On H1, there are odds of the implementation of the “Broadening wedge” pattern. To implement the pattern, bears need to break the support at 0.9855. As a result, risks of the downward movement to the 161.8% target of the “Crab” pattern will increase.
Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
There has been some movement in the EUR/USD chart. What's happening?
The US-China relations are getting more tensed over Hong-Kong. How does that affect the USD?