Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
USD/JPY: bearish 'High Wave' pattern
There's a bearish 'High Wave', which has been confirmed enough. So, the market is likely going to achieve the nearest support at 111.27. A pullback from this level could be a starting point for another upward price movement towards the upper 'Window' (112.27).
The market is moving sideways. There's a 'Shooting Star', but this pattern hasn't been confirmed enough. So, the price is likely going to test 111.75 one again. If we have a pullback from this level next, bears will probably try to reach the next support at 111.27.
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
Technical analysis of the USD/CAD
AUD/USD that has settled below the 100-day MA in the 0.6840 area. Learn more!
The earnings season in the United States is still on. This means that stocks of the largest American companies will likely make big moves.
This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.