AUD/NZD is making movements to the downside which are hard to ignore.
XAU/USD: gold is making a wedge
TP1 1252 TP2 1244 TP3 1215
On the daily chart, XAU/USD keeps forming a “Broadening wedge”. The inability of bulls to overcome resistance at 23.6% of the wave 4-5 and lead the pair out of the descending trade channel points at their weakness. If gold renews May low, it will continue moving down to 88.6% target of the “Double top”.
On H1 of XAU/USD, a break of support at 1282 will trigger AB=CD pattern and increase the risks of a decline to its 200% target.
USD/CHF may test lower levels this week as long as it keeps trading below the resistance at 1.01.
The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...