Although the long trend remains bearish, we think that the USD/CHF in on the verge of a major corrective move of top of its historical low at 0,8275.
The pair is consolidating since the beginning of June and the bounce on top of 80,00 become critical support.
Over the long term, the Cable is a bit choppy evolving without a clear direction. The pair has found a great support on top the weekly lower bollinger band at 1,59.
The break above 1,4440 on June 29th has validated a double bottom formation which opens the door for a test of June high at 1,47. A break above this level would expose 2011 high at 1,4940.
Euro reaches its 3-months maximum.
After 3 days of an impressive rally, we have seen AUD/USD consolidating yesterday drawing a doji on the daily chart. The daily upper bollinger band being reached, we might see some corrective move going forward.
The USD/CAD is back under pressure after the break of its rising trendline (see chart below). We expect a continuation of the move to the downside with next target at 0,95 corresponding to the daily lower bollinger...
We think the USD/CHF setup is now very constructive with the formation of a potential matrial base on top of the historical low at 0,8275. A break above 0,8550 is still required though to really validate a...
The setup is being contructive on the USD/JPY with a possible material base on top of the 80,00 support. We still need though to see the market establish above 81,00 for an acceleration to the upside.
The Cable bounce on top of 1,59 has been well capped by 1,61 and a descending trendline (see chart below). The overall outlook remains bearish but the daily studies are pointing to further gains on the pair...