We can see a Head & Shoulders pattern forming on the USD/CHF pair on the 1H timeframe.
There is a good possibility that price will drop to the neckline and break through leading to some good bearish momentum which will ultimately lead to us riding the downtrend all the way to the 0.94350 zone of strong support.
Get them pips guys
In this daily chart of GBPAUD, we can see the pair reaching a strong resistance area at 1.79500 zone. This leading to a possible double top chart pattern and we can look at possible shorts for this pair. It may drop to the 1.73680 area and possibly as far as strong support of 1.71090
In this daily chart of GBPCAD, we can see the pair reaching a strong resistance area at 1.7800 zone. This leading to a possible double top chart pattern and we can look at possible shorts for this pair. It may drop to the 1.67840 area and possibly as far as 1.58350.
The pair is in a previous channel of support and resistance, last seen earlier this year. With the Bears dominating this market, Buyers are yet to make their move. If resistance indicated in ORANGE is broken, it is one step closer to gaining momentum and breaking recent resistance at 1322 and hopefully GOLD sees green again. If that fails to happen, the only...
This pair has reached the 1320 zone just as I predicted in previous post but went even further to the 1315 zone. Gold has tapped a strong support area at 1307 which has last happened at the start of January. If it breaks below the 1305 area and if the chances of a retest occurs, who knows where price is headed next.
GOLD broke key support on 4HR chart recently and confirmed the BEARISH move by retesting the area. With a flag formation forming you can be sure GOLD will drop to at least 1325 to 1320 where previous support was established.