Weekly Charts Analysis
XAUUSD –Gold Weekly Chart
Supports : 2415.00 , 2390.00 & 2295.00
Resistances : 2485.00 , 2525.00 & 2615.00
Gold is in a Very Bullish Formation, but needs to take out the previous High to avoid possible double top .
Pattern wise, it is going for 2615.00 , but watch the support at 2390.00 – it separates it from a deeper correction.
USDCAD Weekly Chart
Supports : 1.38100 , 1.37650 & 1.36750
Resistances : 1.38950 , 1.39800 & 1.42500
Bullish Formation, with first target at 1.42500
Watch for Sudden drops ( something Loony is famous for 😀
USDCHF Weekly Chart
Supports : 0.84700 , 0.83300 & 0.80000
Resistances : 0.87650 , 0.87950 & 0.88850
Dollar obviously lost a footing with CHF, and now only question is if the support at 0.84700 can hold further losses.
As long as it does, new attempts to Up will follow.
However, if the support lost, USDCHF future would be very bleak
EURCHF Weekly Chart
Supports : 0.93050 , 0.92500 & 0.85000
Resistances : 0.94750 , 0.95250 & 0.96050
The above mentioned Support at 0.85000 is the Low that happened back in 2015. when Swiss Central Bank lifted any support to prevent CHF from getting over strong.
Are they going to Intervene this time – who knows….costs a lot and history showed us that such a drop is short lived….
It is exactly opposite of what BoJ is doing – preventing Yen to be super weak….
Technically , EURCHF is going Down…
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