On the daily chart of USD/CHF, an advance to May high will trigger AB=CD pattern with a target at 224% and increase the odds of the pair getting to the target of “Wolfe waves” pattern.
Wednesday is full of speeches of central banks’ Heads.
On the daily chart, USD/CAD almost reached convergence area of 1.3275-1.33 (200% and 127.2% targets of junior and senior AB=CD).
The US dollar reached a seven-month high last week…
On the daily chart of AUD/USD, the pair couldn’t stick above the upper boundary of the downward channel that signals a bulls’ weakness.
On the daily chart of NZD/USD, bulls couldn’t break the resistance at 0.706 and pull the pair out the downward channel that signaled their weakness.
On H1, EUR/USD is near the convergence area (88.6% target of a “Shark”). This increases the risks of a pullback towards 23.6%, 38.2% и 50% of the wave CD. Use the correction for selling.
Wednesday and Thursday were important days for the greenback and the single currency because of Central Bank’s meetings.
On the daily chart of USD/JPY, bulls made an attempt to bring the pair to May high in order to trigger AB=CD with a target at 200%.
The US dollar index can’t break the psychological level at $94…
The inability of bulls to get above resistance at 23.6% of the wave CD and return to the 1.3455-1.3615 consolidation range points at their weakness.
USD/CHF is consolidating in the 0.9825-0.9915 area. A break of its upper border will mean the triggering of the “Broadening wedge” pattern.
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