USD/CHF is capped by resistance
USD/CHF may test lower levels this week as long as it keeps trading below the resistance at 1.01.
XAU/USD: gold is lying on the shelf
Recommendation:
BUY 1235
SL 1220
TP 1250 TP2 1270 TP3 1289
On the daily chart, after XAU/USD had reached 88.6% target of the “Shark” pattern there was a natural pullback. Bears are counting on the decline to the 113% target. For that, they have to pull the price below July low.
On H1, there’s a “Spike and ledge” pattern on the basis of 1-2-3. A break of the upper border of the 1218-1235 consolidation range will trigger a butterfly pattern with a target at 127.2%. On the other hand, a successful test of 1218 will open the way to the 127.2% target of AB=CD.
Ivan Karamazov
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Technical levels for NZD/USD
The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
USD/JPY took a blow
USD/JPY formed a big bearish candlestick yesterday that almost engulfed the previous bullish one.
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