Updated: May 27
GBPCHF analysis 27.05.2020
A false breakdown has formed. Awesome Oscillator shows a bearish divergence, while Stochastic Oscillator showed an exit from the overbought zone. Breaking through the support level of 1.1894 will result in the formation of a 1-2-3 descending pattern.
Sell below 1.1894.
Stop loss: 1.1960.
Target levels: 1.1852; 1.1818; 1.1775.
USDCAD analysis 27.05.2020
The pair dropped below the strong support level of 1.3860, where it has been trading recently. The increase in crude oil prices amid the renewed economic activity as countries lift lockdowns supports the demand for risk assets and crude oil, while pressuring the US dollar.
The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is in the oversold zone and moves horizontally. Stoch are trying to break out of the oversold zone.
Sell the pair after it goes below 1.3755, with a likely fall to 1.3620.