USDCAD at 1.3030 has challenged the lower boundary of its long-term upward sloping channel from September of 2017 lows. Price has the potential to stage a bullish reversal especially if price breaks above 1.3140.
EURUSD tried to bounce of the 1.12 support area towards the critical 1.1250 resistance. Price reached 1.1244 but got sharply rejected and price fell back towards 1.12. So far support remains intact. Bulls need to recapture 1.1250 in order to hope for a move towards 1.1350-1.14.
Gold price after it broke above the short-term resistance of $1,415-20 has reached $1,430 and is now back testing the break out area around $1,420. Failure to stay above the break out level will be a bearish sign and a sign of a false break out.
My advice is to watch for selling opportunities on the rallies due to rejection of the resistance in the background. First downward target is set at the price of $1.407.
The USD/CHF pair fell sharply from the level of 0.9854 towards 0.9694. Now, the price is set at 0.9748. The resistance is seen at the level of 0.9854 and 0.9928.
