The euro in a double-top pattern
Today, the euro shows a double-top pattern against the CHF, which may be used by the bears if the pattern is confirmed.
Turkish lira continues to weaken
Yesterday, Turkey's election authorities canceled the results of the municipal election after a win of the opposition CHP party. The decision was made after several attempts by the current president Recep Tayyip Erdoğan to recount the result of the elections. It provoked streets riots in Istanbul. Such political instability pulled the Turkish lira down.
At the moment, USD/TRY is targeting the resistance at 6.2. If the lira gains back strength, the pair will fall back to the support at 5.99. If this level is broken, the next key support will lie at 5.94. From the indicators' picture, ADX shows that the bullish market is overheated and RSI is moving within the overbought zone. If it leaves this zone, it may bring a selling opportunity.
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The euro in a double-top pattern
Today, the euro shows a double-top pattern against the CHF, which may be used by the bears if the pattern is confirmed.
Will the Australian job data support the AUD?
Australia will publish the level of employment change and the unemployment rate at 2:30 MT on November 14.
Market updates on November 12
The euro and the Australian dollar growing against the USD, the British pound in a correction after Monday's rise
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