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EUR/USD With Good H&S Formation; Silver And CHF/JPY Aiming Lower

Published 07/26/2018, 04:48 AM
EUR/USD
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CHF/JPY
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XAG/USD
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SI
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EUR/USD bounces again from the upper line of the triangle. In the same time, we do have an inverse and and shoulders pattern, which potentially can end the downtrend. For the proper buy signal, we need to see the breakout of the green horizontal resistance.


Silver is creating a flag, which is a very negative sign. Flag went up to test the horizontal resistance on the 15.6 USD/oz and the price bounced there, creating a good selling opportunity. The sentiment on the silver is negative and we will get a proper trading signal, once the price will break the lower line of the flag.


CHF/JPY is still pushing lower. On the H1-H4 it does not look so great as on the weekly chart, where the price created a shooting star on an important resistance. On those smaller time frames, movements are choppy and irregular and the situation is not so tempting, even despite the head and shoulders pattern. Overall long-term sentiment is definitely negative.

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