USD/CAD formed a “gravestone doji” candlestick on the W1 ahead of the 50-week MA (1.3280). Learn more!
USD/CHF: the franc is supported
SELL 0.9805 SL 0.986 TP1 0.9705 TP2 0.966 TP3 0.96
On the daily chart of USD/CHF, the return of the pair towards the resistance near the parity level (1.00), will push the pair towards the targets of the 5-0, "Wolfe Waves" and AB=CD patterns. The targets of the last ones comply with the 1.018 and 1.04 levels. Otherwise, if the pair moves below the 50% level of the "Shark" pattern's CD wave, the risks of the further fall will increase.
On H1, bears plan to implement the "Three Indians" and "Broadening Wedge" patterns. If the December's minimum is updated, the pair will rise.
It looks like GBP/JPY is finally trying to break out of the recent consolidation. Learn more!
Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.
The US dollar is currently in a correction, but is likely to continue the trend down.
The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?