The EUR/USD did not close the gap as anticipated. Instead the current
correction continues. It is best to wait until the rising support seen
in the 4H chart below is broken, before considering the short entry
again. The current rally can go to the 1.24 area.
There is some risk appetite but we'll see if it lasts. The EUR/USD is
a short candidate, while a pair like AUD/USD is a long candidate but is
current meeting resistance just below 0.86. XAU/USD is also another
candidate for bullish action. Gold should re-test high, breaking out of a
correction swing, but as always, a second swing.
There is a bearish outlook for the USD/CHF in the last post.
At the moment, waiting for pullback in 15-min to confirm bearish
attempt. However a break below 1.14 may be needed to confirm outlook to
1.1250. Until break though, the 1.14 support has to be respected.
Commodity Trading Advisor
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