The last two weeks were not very pleasant for the price action traders. The market was even more unpredictable than usual. This week brings us more technical movements and I bet that many of you are taking advantage of this.
USD/CHF is very close to a major buy signal. Positive sentiment is supported by the bullish flag and then by the rising pressure on the horizontal resistance. Breakout looks imminent
Secondly, look at the GBP/CAD, which is inside of the flag and bounced from the 38.2% Fibonacci. For the sell signal, we need to see the breakout of the combination of a dynamic (lower line of the flag) and a horizontal support (1.743).
Third is the GBP/JPY, which finally went lower. On the daily chart, the sell setup that we were talking about, looked super strong. We had to wait a bit but it did not disappoint the sellers. Most recently, we had a small bullish flag, which resulted with a bearish breakout. Sell signal is back again.