After bouncing off the previous Major trendline last month, Bitcoin seems to be retesting the support area again in hopes of catching a bullish momentum.
USD/CHF: the Frank is changing the direction
2019-11-11 • Updated
TP1 0.9855 TP2 0.983 TP3 0.976
On the daily chart of USD/CHF, the 113% target of the “Shark” pattern was reached. If the pair reaches the convergence of 1.0130-1.0210 (targets of “Shark”, “Wolfe Waves” and AB=CD patterns), the risks of the return towards 23.8%, 38.2% and 50% from the last upward wave (CD) will increase.
On H1, the buyers’ inability to move the price up increases risks of reversal “Broadening Wedge” pattern’s formation. To achieve this goal, sellers need to pull the price back to the support at 0.9955 and break it.
After completing a substantial 4-week bullish rally, the US Dollar closed last week with a big bearish candle, which has led to a 2.63% decline in US Dollar prices. The million-Dollar question on traders' and investors' minds: is this the start of a US Dollar dump or just a correction?
All eyes seem to be on the US Dollar as traders await the Federal Reserve Chair's speech this Thursday at the Cato Institute's Annual Monetary Conference.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD
The US dollar index has all chances of reaching the 2000s high of 120.00.
The Consumer Price Index announcement by Statistics Canada is set for release in a few hours will reveal the state of inflation in the Canadian economy