USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
USD/CHF: will the pair rise?
Recommendation: BUY 1.01 SL 1.0045 TP1 1.018 TP2 1.022 TP3 1.032
On a daily chart of USD/CHF, there is a reversal as a part of a transformation of the “Shark” pattern into 5-0. The update of November’s maximum will let the bulls to reach the targets of the “Wolfe Waves” and AB=CD patterns. The potential of an upward movement is very high.
On H1, the pair stuck in a “death zone”. The bullish pressure will continue only if the resistance at 1.01 is broken. Otherwise, if the support at 0.9915 is broken as a part of the “Broadening wedge” pattern, the pair can fall further down.
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?
There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?
The US-China relations are getting more tensed over Hong-Kong. How does that affect the USD?