AUD/USD Forms Short-term Double Bottom

The AUD/USD completed a double bottom when breaking above 1.0590. Note also that the market is resolving a bullish divergence.

A pattern breakout projection targets 1.0670 right below 78.6% retracement.

The RSI is attacking 60. A break above it is trouble for the bearish momentum, and a break above 70 establishes a

Source: ActionForexall Rss Feed

EUR/CHF Repeating A Double Top At The 1.2960 Resistance

The recent from 1.28 has met resistance at 1.2960. During today’s European session, a double top is forming with a break below the 1.2910 support. The RSI in the 1H chart is breaking below 40 invalidating the bullish momentum, and threatening to establish bearish momentum. Looking at the 4H chart,

EUR/CHF Repeating A Double Top At The 1.2960 Resistance

The recent from 1.28 has met resistance at 1.2960. During today’s European session, a double top is forming with a break below the 1.2910 support. The RSI in the 1H chart is breaking below 40 invalidating the bullish momentum, and threatening to establish bearish momentum. Looking at the 4H chart,

Double Bottom Spotted as USD/CAD is Contained Within Channel

The 1H chart shows the USD/CAD failing to establish bearish momentum, as the RSI reading remained above 30. Also, a double bottom is spotted, and a throwback has respected the consolidation pattern.

The 4H chart shows a couple of scenarios.

The first one is that we have completed a flag pattern, and